USDCHF is trading flat despite upbeat US jobs data. US economy has added 315000 jobs in Aug compared to a forecast of 295K. The rate of unemployment rose to 3.7% vs an estimated 3.5%. Average hourly earnings came at 0.30% below the consensus of 0.40%.
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Technically in the 4-hour chart, the pair is holding above short term (21- and 55 EMA) and 200 EMA (0.96425). Any break below 0.9780 will take the pair to 0.970/0.9660. USDCHF hits an intraday high of 0.98362 and is currently trading around 0.98285.
The near-term resistance is around 0.98865, and any breach below targets 0.9948/1.000.
Indicators (4-hour chart)
CCI (50)- Bullish
ADX- Bullish
It is good to buy on dips around 0.98000 with SL around 0.9760 for TP of 0.9900.
