4 Sep 2015
USD/CHF stages short-lived pullback after US employment report
FXStreet (Córdoba) - USD/CHF briefly dipped to daily lows but quickly bounced back toward daily highs as investors assess US nonfarm payrolls figures.
US nonfarm payrolls came in at 173K in August down from 245K the previous month. Despite the headline came in below expectations of 220K, the job gain was still seen as strong. Meanwhile, the unemployment rate edged down to 5.1% from 5.3% in July and against the 5.2% expected.
USD/CHF dropped to a low of 0.9682 only to bounce back to the 0.9765 area. At time of writing, the pair was trading at 0.9760, recording a 0.29% daily gain and poised to close its second week with gains in a row.
USD/CHF technical levels
Immediate resistance line up at 0.9770 (Sep 3 high), followed by 0.9800 (psychological level), while supports are now seen at 0.9682 (Sep 4 low) and 0.9660 (20-day SMA).
US nonfarm payrolls came in at 173K in August down from 245K the previous month. Despite the headline came in below expectations of 220K, the job gain was still seen as strong. Meanwhile, the unemployment rate edged down to 5.1% from 5.3% in July and against the 5.2% expected.
USD/CHF dropped to a low of 0.9682 only to bounce back to the 0.9765 area. At time of writing, the pair was trading at 0.9760, recording a 0.29% daily gain and poised to close its second week with gains in a row.
USD/CHF technical levels
Immediate resistance line up at 0.9770 (Sep 3 high), followed by 0.9800 (psychological level), while supports are now seen at 0.9682 (Sep 4 low) and 0.9660 (20-day SMA).