The US Dollar loses strength in all currency pairs following the NFP report, with the USDCHF trading at 0.87194.
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- US Dollar weakens across the board after NFP.
The pair currently trades last at 0.87194.
The previous day high was 0.8799 while the previous day low was 0.8733. The daily 38.2% Fib levels comes at 0.8758, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.8774, expected to provide resistance.
The USD/CHF reached a four-day low at 0.8699 on Friday, following the release of US jobs data. The pair is trading around 0.8705, retreating from weekly highs on the back of a weaker US Dollar across the board.
The Greenback is experiencing a decline on Friday following the release of the July employment report. Nonfarm Payrolls increased by 187,000, falling short of the market consensus of 200,000. However, the Unemployment Rate dropped from 3.6% to 3.5%. Additionally, Average Hourly Earnings rose by 4.4% compared to a year ago, surpassing the market consensus of 4.2%. Analysts at Wells Fargo noted that the slower pace of hiring in July indicates a gradual cooling of the labor market.
The Greenback has weakened and is falling against various currencies. In contrast, Wall Street is experiencing a rise. The decline in US Treasury bond yields is putting pressure on the DXY, that is falling 0.60%, under 102.00.
The USD/CHF is currently testing the support area at 0.8700, declining for the second consecutive day. If it falls below that area, attention would shift to the 20-day Simple Moving Average (SMA) at 0.8680. The momentum currently favors the downside. This decline is occurring after the US Dollar was rejected from levels above 0.8800.
On the upside, immediate resistance is seen at 0.8730. For the US Dollar to regain strength, it would need to reclaim the level of 0.8780, which could potentially lead to another test above 0.8800.
Technical Levels: Supports and Resistances
USDCHF currently trading at 0.8706 at the time of writing. Pair opened at 0.8743 and is trading with a change of -0.42 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 0.8706 |
| 1 | Today Daily Change | -0.0037 |
| 2 | Today Daily Change % | -0.4200 |
| 3 | Today daily open | 0.8743 |
The pair is trading above its 20 Daily moving average @ 0.8692, below its 50 Daily moving average @ 0.888 , below its 100 Daily moving average @ 0.8949 and below its 200 Daily moving average @ 0.9161
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 0.8692 |
| 1 | Daily SMA50 | 0.8880 |
| 2 | Daily SMA100 | 0.8949 |
| 3 | Daily SMA200 | 0.9161 |
The previous day high was 0.8799 while the previous day low was 0.8733. The daily 38.2% Fib levels comes at 0.8758, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.8774, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 0.8718, 0.8693, 0.8652
- Pivot resistance is noted at 0.8783, 0.8824, 0.8849
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 0.8799 |
| Previous Daily Low | 0.8733 |
| Previous Weekly High | 0.8737 |
| Previous Weekly Low | 0.8552 |
| Previous Monthly High | 0.9005 |
| Previous Monthly Low | 0.8552 |
| Daily Fibonacci 38.2% | 0.8758 |
| Daily Fibonacci 61.8% | 0.8774 |
| Daily Pivot Point S1 | 0.8718 |
| Daily Pivot Point S2 | 0.8693 |
| Daily Pivot Point S3 | 0.8652 |
| Daily Pivot Point R1 | 0.8783 |
| Daily Pivot Point R2 | 0.8824 |
| Daily Pivot Point R3 | 0.8849 |
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