FxWirePro: USD/CHF trades higher, market eyes US Nonfarm payroll
USD/CHF has shown a minor selling pressure after hitting high of 0.96438 at the time of writing. The pair hits intraday low of 0.96199 and shown a minor recovery. The main reason weakness in Swiss franc is monetary polic…
USD/CHF has shown a minor selling pressure after hitting high of 0.96438 at the time of writing. The pair hits intraday low of 0.96199 and shown a minor recovery. The main reason weakness in Swiss franc is monetary policy divergence between Fed and SNB. It is currently trading around 0.95809. Market eyes US jobs data which is to be released today for further direction.
The near term resistance is around 0.9660 and any convincing break above will take the pair to next level till 0.9700/0.9725.
On the lower side near term support is around 0.9620 and any break below 0.958/0.9550/0.9520.The pair should break below 0.9420 for further weakness.
It is good to buy on dips around 0.9600 with SL around 0.9560 for the TP of 0.9700/0.9720.
