According to the latest report, the level of unemployment didn’t change in Switzerland last month. The index (with a glance at seasonality) is currently 2.9%. Analysts had anticipated an increase up to 3%.
Therefore, the amount of unemployed Swiss citizens was over 120 000 people in late September. This is some 500 people more than in August.
Forex.
According to , the Swiss Franc keeps strengthening against the US Dollar. The experts report that USDCHF is forming an upswing represented by wave А/В of level Н4.
The currency pair is currently trading around 0.9418, a level of resistance, However, the main level of resistance is the 0.9437 high. A break and consolidation above it will initiate a mid-term rally of USDCHF.
Alternatively, a break below 0.9274, which is the local low, will initiate wave A/B of level H16. If this is the case, 0.9261 and 0.9237 will become the closest levels of support.
