USD/CHF deflates from 1.0130 ahead of US jobs

The USD/CHF pair stalled 2-day sell-off and attempted a tepid-bounce this Friday, only to meet fresh supply just below the daily pivot located at 1.0136 to now revert towards 1.01 handle.

The latest leg lower in the major is mainly driven by fresh selling pressure seen behind the greenback against its major peers, while negative European equities triggered a renewed risk-off wave in the markets, boosting the safe-haven Swiss franc at the expense of the buck.

The spot will get influenced by the US non-farm payrolls data due later in the NA session, which will provide further insight on the Fed’s interest rate outlook for this year.

USD/CHF Technical Levels

To the upside, the next resistance is located at 1.0136 (daily pivot) and above which it could extend gains to 1.0150 (50-DMA) and 1.0183 (5-DMA) next. To the downside, immediate support might be located at 1.0043 (daily S1) and below that 1.0018 (Dec 8 low) and from there to 1.0000 (parity).