Sun, Feb 05, 2023 @ 18:05 GMT
HomeContributorsFundamental AnalysisUSD/CHF: Switzerland's Unemployment Rate Remained Steady In February

USD/CHF: Switzerland’s Unemployment Rate Remained Steady In February

For the 24 hours to 23:00 GMT, the USD declined 0.24% against the CHF and closed at 1.0124.

Macroeconomic data revealed that Switzerland’s seasonally adjusted unemployment rate remained unchanged at 3.3% in February, meeting market expectations.

In the Asian session, at GMT0400, the pair is trading at 1.0115, with the USD trading 0.09% lower against the CHF from yesterday’s close.

The pair is expected to find support at 1.0080, and a fall through could take it to the next support level of 1.0046. The pair is expected to find its first resistance at 1.0155, and a rise through could take it to the next resistance level of 1.0196.

Moving ahead, investors will keep a close watch on Swiss National Bank’s (SNB) interest rate decision, due to be announced next week.

The currency pair is trading below its 20 Hr and 50 Hr moving averages.

GCI Financial
GCI Financialhttp://www.gcitrading.com/
DISCLAIMER : GCI's Daily Market Commentary is provided for informational purposes only. The information contained in these reports is gathered from reputable news sources and is not intended to be used as investment advice. GCI assumes no responsibility or liability from gains or losses incurred by the information herein contained.

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