USD/CHF jumps to fresh session peak after mixed US data

The USD/CHF pair was seen building on to its recovery momentum back above 1.0100 handle following the release of closely watched US jobs report.

Currently above mid-1.0100s, testing session peaks, the pair caught fresh bids after average hourly earnings surprised on the upside and came-in to show a growth 0.4% for December as against 0.3% expected and last month's disappointing reading. Meanwhile, the headline NFP numbers was well below consensus estimates but did little to hinder the US Dollar's recovery momentum from Thursday's three-week low touched in the aftermath of a slight disappointment from Fed minutes.

The pair even shrugged off larger-than-expected US trade deficit data, at $45.2 billion for November as compared to $42.5 billion expected and $42.4 billion reported in the previous month, and reversed part of Thursday's sharp decline to the lowest level since Dec. 14.

Technical levels to watch

From current levels, 1.0175 level is likely to act as immediate hurdle above which the pair is likely to surpass 1.0200 handle and aim towards testing 1.0230 resistance area. On the downside, weakness back below 1.0125 support might now drag the pair below Thursday’s swing low support near 1.0100 psychological mark, towards testing 50-day SMA support near 1.0075 region.