USDCHF halted its three weeks of the bullish trend and lost more than 150 pips on US dollar weakness. The demand for the Swiss franc increased in the rumor of Credit Suisse's collapse.
US private companies have added 208K jobs in Sep compared to a forecast of 200K. The ISM services PMI came at 56.7% in Sep compared to a forecast of 56.
According to the CME Fed watch tool, the probability of a 75 bpbs rate hike in Nov jumped to 69.4% from 64.70% a week ago.
Technically in the 4-hour chart, the pair is holding below short term (21- and 55 EMA) and above 200 EMA (0.97359). Any break below 0.9780 will take the pair to 0.97300/0.9660. USDCHF hits an intraday low of 0.97805 and is currently trading around 0.98158.
The near-term resistance is around 0.9835 and any breach below targets 0.9900/0.9965/1.000.
Indicators (4-hour chart)
CCI (50)- Bearish
ADX- Neutral
It is good to sell on rallies around 0.9848-50 with SL around 0.9928 for TP of 0.9705.


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