USDCHF Movement
On Friday, the USD declined 0.10% against the CHF and closed at 0.9725, after the US non-farm payrolls increased less than market forecasts.
In economic news, consumer prices in Switzerland recorded its steepest fall in 56 years, dipping 1.4% on an annual basis in August, following a 1.3% drop in the preceding month, indicating deflationary pressure on the Swiss economy.
In the Asian session, at GMT0300, the pair is trading at 0.9719, with the USD trading 0.06% lower from Friday’s close.
The pair is expected to find support at 0.9680, and a fall through could take it to the next support level of 0.9640. The pair is expected to find its first resistance at 0.9766, and a rise through could take it to the next resistance level of 0.9812.
Amid no major economic releases in Switzerland today, investors would closely monitor the nation’s unemployment rate data, the lone important release this week, slated to release tomorrow.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
