7 Aug 2015
USD/CHF hits highest level since March after nonfarm payrolls
FXStreet (Córdoba) - The dollar surged to a fresh 4-month high versus the franc after the US Labor Department reported economy created 215,000 new jobs in July.
The US nonfarm payrolls reading was slightly below the 222,000 expected by analysts but June and May gains were revised up by a combined 14,000. Meanwhile, the unemployment rate stayed unchanged at its post-recession low of 5.3%.
As the dollar strengthened broadly, USD/CHF extended gains to its highest level since late March at 0.9883. At time of writing, the pair is trading at 0.9875, recording a 0.71% gain on the day.
USD/CHF technical levels
On the upside, immediate resistances are seen at 0.9900/04 (psychological level/Mar 20 high) and 0.9982 (Mar 19 high). On the downside, supports could be found at 0.9790 (Aug 7 low) 0.9759 (Aug 5 low) and 0.9720 (10-day SMA).
The US nonfarm payrolls reading was slightly below the 222,000 expected by analysts but June and May gains were revised up by a combined 14,000. Meanwhile, the unemployment rate stayed unchanged at its post-recession low of 5.3%.
As the dollar strengthened broadly, USD/CHF extended gains to its highest level since late March at 0.9883. At time of writing, the pair is trading at 0.9875, recording a 0.71% gain on the day.
USD/CHF technical levels
On the upside, immediate resistances are seen at 0.9900/04 (psychological level/Mar 20 high) and 0.9982 (Mar 19 high). On the downside, supports could be found at 0.9790 (Aug 7 low) 0.9759 (Aug 5 low) and 0.9720 (10-day SMA).