Forex: USD/CHF risks 0.9300 as the week ends

FXstreet.com (Barcelona) - As the market digests the US nonfarm payrolls, that slowed its improving pace almost as expected, from 143k (revised higher from 96k) to 114k (consensus of 113k), the greenback is falling further against risk assets. Since the CHF is still pegged to the EUR, the USDCHF is falling as well and is risking the loss of the 0.9300. In fact, the pair is already trading below the psychological level as it gets tested as support ahead of the weekend.

The market may be pricing in expectations regarding the weekend and the Eurogoup meeting next Monday, with some hopes of a Spanish aid request to be formalized and announced there. Prime Minister Rajoy, however, has denied any intentions of doing that.

UBS analysts are bearish on the pair: "The directional risk skewed to the downside with the trend indicators bearish", they said, pointing to support at 0.9239 and resistance at 0.9399 ahead of 0.9438.