USDCHF Turns Higher After Unemployment Data
USDCHF is trading 0.33% higher at 0.9904, adding to positive momentum, having hit the daily low at 0.9871. Switzerland Unemployment Rate s.a (month over month) came in at 2.3% matching expectations for August. SNB total sight deposits for the week 6 September came in at CHF 591.6 bn versus the previous reading of CHF 591.6 bn.
USDCHF continues inside the ascending channel which started since August 13rd, with daily corrections, which accelerated after the pair crossed the 50 day moving average. On the upside first resistance stands at 0.9929 the 100 day moving average, a break above will drive prices up to 0.9950 the 200-day moving average, before an attempt to 1.00 mark. On the downside, immediate resistance stands at 0.9871 daily low, while more bids will emerge at 0.9837 the 50 day moving average.