USDCHF Movement
On Friday, the USD declined 0.54% against the CHF and closed at 0.9021, hurt by lacklustre US December non-farms payrolls data.
On the economic front, on a seasonally adjusted monthly basis, the unemployment rate in Switzerland remained unchanged at the previous month level of 3.2% in December, broadly in-line market expectations. Meanwhile, Switzerland’s consumer price index rose 0.1% (YoY) in December, failing to meet market expectations for a rise of 0.2% and compared to previous month’s level of 0.1%.
In the Asian session, at GMT0400, the pair is trading at 0.9008, with the USD trading 0.14% lower from Friday’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 0.8947. The pair is expected to find its first resistance at 0.9066, and a rise through could take it to the next resistance level of 0.9125.
As there are no economic releases from Switzerland today, traders would keep a tab on global economic news for further guidance in the pair.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
