USDCHF Movement
For the 24 hours to 23:00 GMT, the USD declined 0.24% against the CHF and closed at 0.8967. In Switzerland, an official report revealed that, on a seasonally adjusted monthly basis, unemployment rate in the nation stood unchanged at previous month’s level of 3.2% in January, broadly in-line with market expectations.
In the Asian session, at GMT0400, the pair is trading at 0.8952, with the USD trading 0.17% lower from yesterday’s close.
The pair is expected to find support at 0.8929, and a fall through could take it to the next support level of 0.8905. The pair is expected to find its first resistance at 0.8986, and a rise through could take it to the next resistance level of 0.9019.
Traders would focus on global economic news for further guidance in the pair, amid a lack of economic releases from Switzerland.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
