USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.81% against the CHF and closed at 0.9657.
In economic news, Switzerland’s seasonally adjusted unemployment rate climbed 3.4% in September, in line with expectations, from 3.3% in August. Meanwhile, the unadjusted figure remained steady at 3.2%, as expected.
In the Asian session, at GMT0300, the pair is trading at 0.9663, with the USD trading marginally higher from yesterday’s close.
The pair is expected to find support at 0.9613, and a fall through could take it to the next support level of 0.9562. The pair is expected to find its first resistance at 0.9724, and a rise through could take it to the next resistance level of 0.9786.
Going ahead, market participants will look forward to Switzerland’s e ZEW expectations survey, scheduled to be released next week, to gauge the strength in the Swiss economy.
The currency pair is showing convergence with its 20 Hr moving average and is trading below its 50 Hr moving average.
