USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.22% against the CHF and closed at 0.8992, as the latter came under pressure after data showed that unemployment rate in Switzerland defied market expectations and stood pat at a seasonally adjusted level of 3.2% in May. Separately, another report revealed that retail sales in the Swiss economy rose at a slower than anticipated pace in April.
In the Asian session, at GMT0300, the pair is trading at 0.9006, with the USD trading 0.16% higher from yesterday’s close.
The pair is expected to find support at 0.8977, and a fall through could take it to the next support level of 0.8948. The pair is expected to find its first resistance at 0.9022, and a rise through could take it to the next resistance level of 0.9038.
With no major Swiss economic releases, later today, traders would eye global economic news for further cues in the Swiss Franc.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
