- USD/CHF declined sharply after hitting high of 0.96880. It is currently trading around 0.96400.
- The pair’s intraday major resistance is 0.96875 (61.8% retracement of 0.97780 and 0.95504) and any break above will take the pair till 0.9710/0.97708.It should break above 0.9808 for further bullishness.
- US economy has added 222K jobs in the month of Jun compared to forecast of 175K. The unemployment rate came at 4.4% compared to 4.3% forecast.
- On the lower side, major support is around 0.9550 and any break below will drag the pair till 0.9520/0.9495 level. Extreme bearishness can be seen below 0.9440. The minor support is around 0.9640/0.9580.
It is good to buy on dips around 0.9600 with SL around 0.9550 for the TP of 0.9710/0.9770.
