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by ForexNewsNow Team on December 6, 2010

USD/CHF rises ahead of Swiss unemployment report

swiss franc swissy fx analysisNEW YORK (Forex News Now) – The greenback rose slightly against the swissy on Monday, ahead of the monthly release of Switzerland’s unemployment figures.

In early currency market trading, USD/CHF hit 0.9748 at around 7:30 A.M., GMT, up 0.11% from Friday’s close.

The release of the unemployment data on Tuesday is expected to show that the percentage of the total work force that is actively unemployed or actively seeking employment remained at 3.6% in November, the same figure recorded the previous month.

According to USD/CHF analysis, the dollar was likely to touch key support around the low of Nov. 4, 0.9568, and encounter key resistance around Friday’s high of 0.9950.

Elsewhere, the swissy rose against the euro: EUR/CHF traded at 1.3024, down 0.21% from Friday’s close.

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