The pair gained strength after upbeat US jobs data. The economy has added 390000 jobs in May compared to a forecast of 325K. The US 10-year yield surged above 2.95% on an optimist US Nonfarm payroll. According to the CME Fed watch tool, the probability of a 50 bpbs rate hike in Jul increased to 89.5% from 88.6% a day ago. USDCHF hits a low of 0.96112 and is currently trading around 0.96125.
Bullish scenario-
The primary level to Watch – is 0.9660. Any convincing surge above confirms intraday bullishness. A jump to 0.9700/0.9765 is possible.
Bearish scenario-
Intraday support – 0.9550. Break below that level will take the pair to 0.9520/0.9460/0.9430/0.9380.
Indicators (Daily chart)
Directional movement index – Neutral
CCI (50) - Neutral
It is good to sell on rallies around 0.9650 with SL around 0.9700 for a TP of 0.9500.
