USDCHF Consolidates, Eyes Upside Despite Jobless Claims Rise

USDCHF is consolidating in a narrow range after a minor pullback.  It hit a low of 0.80304 on Monday and is currently trading around 0.080793.

US initial jobless claims saw a slight uptick to 226,000 for the week ending August 2, 2025, a modest increase above expectations that suggests a stable yet cautiously managed labor market amidst economic uncertainties. Furthermore, continuing jobless claims rose to 1.97 million, the highest since November 2021, indicating some softening in employment and a cooling trend in job creation, rather than a surge in layoffs. This data aligns with recent weaker job reports and broader concerns over trade policies, collectively pointing to a resilient but gradually decelerating US labor market.

Technical Analysis Points to Further Upside

The pair is trading above the   55-EMA,  200 EMA, and 365 EMA on the 15-min chart, indicating a mixed trend. The immediate resistance is at  0.8135, any break above targets 0.8170/0.8215/0.8250.

Support Levels and Potential Declines

On the downside, near-term support is around 0.8060; any violation below will drag the pair to 0.8040/ 0.8020/0.7980/0.7920/0.7860/0.7800.

Indicators (15-min chart)

CCI (50) - Bullish

Directional Movement Index -  Neutral

Trading Strategy Recommendation

It is good to buy on dips around 0.80600 with a stop-loss at 0.80250 for a TP of 0.8170/0.8215.