USDCHF Movement
On Friday, the USD rose 0.59% against the CHF and closed at 0.9222, as investors cheered an upbeat rise in the US non-farm payrolls employment data.
Meanwhile, the Swiss Franc came under pressure after a report from Switzerland revealed that the nation’s real retail sales rose 1.0% (YoY) in September, failing to meet analysts’ expectations for a rise of 2.5%. Separately, the State Secretariat for Economic Affairs (SECO) reported that, on a seasonally adjusted basis, the unemployment rate in the nation rose to 3.2% (MoM) in October, at par with market estimate and compared to a similar rate of rise recorded in the previous month.
In the Asian session, at GMT0400, the pair is trading at 0.9225, with the USD trading marginally higher from Friday’s close.
The pair is expected to find support at 0.9169, and a fall through could take it to the next support level of 0.9114. The pair is expected to find its first resistance at 0.9264, and a rise through could take it to the next resistance level of 0.9304.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
