USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.66% against the CHF and closed at 0.9327. The Swissy rose as investors reacted positively to Switzerland’s employment data, which did not disappoint market expectation. On a seasonally adjusted basis, unemployment in Switzerland rose 3.2% (MoM) in August, at par with market consensus and compared to a similar rise seen in the previous month. Another official data showed that real retail sales in the nation rose 0.8% (YoY) in July, down from previous month’s rise of 2.3%.
In the Asian session, at GMT0300, the pair is trading at 0.9326, with the USD trading tad lower from yesterday’s close.
The pair is expected to find support at 0.9287, and a fall through could take it to the next support level of 0.9247. The pair is expected to find its first resistance at 0.9380, and a rise through could take it to the next resistance level of 0.9433.
With no major economic release in Switzerland, traders are eyeing global economic news for further guidance.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
