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7 Mar 2014
USD/CHF regains 0.8800 after nonfarm payrolls
FXStreet (Córdoba) - The USD/CHF bounced strongly off 28-month lows as better-than-expected US employment data boosted the greenback across the board.
US nonfarm payrolls showed the US added 175,000 new jobs in February versus 149,000 expected, while the unemployment rate rose to 6.7% from 6.6% as the labor force increased. The dollar strengthened on the news and rose back above 0.8800 versus the franc. At time of writing, the USD/CHF is trading at 0.8805, unchanged on the day, having hit a 28-month low of 0.8756 earlier today.
USD/CHF levels to watch
In terms of technical levels, USD/CHF resistances could be found at 0.8810 (Mar 8 high), 0.8848 (10-day SMA) and 0.8886 (20-day SMA). On the flip side, supports are seen at 0.8756 (2014 low Mar 7), 0.8700 (psychological level) and 0.8612 (daily low Oct 31 2011).
US nonfarm payrolls showed the US added 175,000 new jobs in February versus 149,000 expected, while the unemployment rate rose to 6.7% from 6.6% as the labor force increased. The dollar strengthened on the news and rose back above 0.8800 versus the franc. At time of writing, the USD/CHF is trading at 0.8805, unchanged on the day, having hit a 28-month low of 0.8756 earlier today.
USD/CHF levels to watch
In terms of technical levels, USD/CHF resistances could be found at 0.8810 (Mar 8 high), 0.8848 (10-day SMA) and 0.8886 (20-day SMA). On the flip side, supports are seen at 0.8756 (2014 low Mar 7), 0.8700 (psychological level) and 0.8612 (daily low Oct 31 2011).