USDCHF Movement
For the 24 hours to 23:00 GMT, USD declined 0.88% against the CHF and closed at 0.9493.
In Switzerland, the unemployment rate rose to 3.1% in December, compared to 3.0% in the previous month. The retail sales increased 1.8% (YoY) in November, following 0.1% recorded in October.
Meanwhile, the head of Swiss National Bank (SNB), Philipp Hildebrand resigned yesterday, amid an escalating controversy over his wife’s currency trades. Following the resignation, the SNB officials assured that they are committed to preserving the cap that the central bank has placed on the value of the currency last year, calming nervous investors.
In the Asian session, at GMT0400, the pair is trading at 0.9487, with the USD trading 0.06% lower from yesterday’s close.
The pair is expected to find support at 0.9452, and a fall through could take it to the next support level of 0.9417. The pair is expected to find its first resistance at 0.9544, and a rise through could take it to the next resistance level of 0.9601.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
