2 May 2014
USD/CHF propelled by US jobs data
FXStreet (Córdoba) - The dollar rose sharply across the board and took the USD/CHF to 2-day highs above 0.8800 propelled by much better-than-expected US nonfarm payrolls figures.
The USD/CHF rose more than 50 pips after data showed the US economy created 288,000 new jobs in April, far surpassing the 210,000 expected, and reached a high of 0.8840 before facing resistance. At time of writing, the USD/CHF is trading at 0.8835, recording a 0.51% gain on Friday and on track to post a 0.39% weekly advance, having bounced from a low of 0.8769.
USD/CHF levels to watch
As for technical levels, immediate resistances for USD/CHF could be found at 0.8840 (May 2 high), 0.8850 (Apr 30 high) and 0.8860 (Apr 22 high). On the other hand, supports are seen at 0.8782 (May 1 low), 0.8769 (Apr 28 low) and 0.8750 (Apr 10 low).
The USD/CHF rose more than 50 pips after data showed the US economy created 288,000 new jobs in April, far surpassing the 210,000 expected, and reached a high of 0.8840 before facing resistance. At time of writing, the USD/CHF is trading at 0.8835, recording a 0.51% gain on Friday and on track to post a 0.39% weekly advance, having bounced from a low of 0.8769.
USD/CHF levels to watch
As for technical levels, immediate resistances for USD/CHF could be found at 0.8840 (May 2 high), 0.8850 (Apr 30 high) and 0.8860 (Apr 22 high). On the other hand, supports are seen at 0.8782 (May 1 low), 0.8769 (Apr 28 low) and 0.8750 (Apr 10 low).