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Forex pairs in this Article » USD/CHF
FXstreet.com (New York) - The USD/CHF foreign exchange rate jumped ahead during US trading, having been given an impetus by better-than-expected US data Friday.

USD/CHF on the move after critical US data

In the United States, the Nonfarm Payrolls (June) came in at 195k, exceeding expectations of only 165K, and matching a figure of 195K previously. In addition, the Unemployment Rate (June) yielded 7.6%, which missed estimates calling for 7.5%.

In these moments Friday, the USD/CHF is now trading at 0.9340, having retreated slightly off a high of 0.9663 in recent moments – at this juncture the pair is operating at +0.77% above its opening. Following a jump above calculated resistance at 0.9614, Mataf.net analysts identify the next short-term measures of correction at 0.9656, then 0.9729.

USD/CHF upside move likely

According to the Technical Analyst Team at ICN.com, “With a long white candlestick pattern, the USD/CHF has ended yesterday’s trading at 61.8% Fibonacci retracement of the entire decline from 0.9840 to 0.9130 zones as seen on the provided daily chart. Prolonged stability above moving averages in addition to the positivity on the stochastic and Vortex argue us to suggest potential upside move over intraday basis.”
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