The Federal Statistical Office was expected to release Swiss Inflation data with a negative forecast of -0.2% vs. -0.3%. However, the actual figure has come out as worse than expected.

The consumer price index (CPI) fell by 0.3% in January 2019 compared with the previous month, reaching 101.3 points (December 2015 = 100). Inflation was 0.6% compared with the same month of the previous year. These are the results of the Federal Statistical Office (FSO).

Despite that, the USD/CHF is taking a bearish turn below a solid resistance level of $1.0005. The pair is likely to face strong support at $0.99910 and the bearish breakout of this level can push USD/CHF towards 0.9978.

Good luck!