USD/CHF spikes to 1-week high after strong payrolls

By FXstreet.com | July 03, 2014 AAA

FXStreet (Córdoba) - The USD/CHF rallied to fresh 1-week highs after data showed the US economy added 288K new jobs in June, beating expectations of 213K while the unemployment rate fell to a nearly 6-year low of 6.1%.



The USD/CHF rose nearly half a cent after data and printed a high of 0.8942 before slowing a tad. At time of writing, the pair is trading at 0.8935, recording a 0.55% gain on the day.



USD/CHF supports and resistances



In terms of technical levels, the USD/CHF could find next resistances at 0.8950/56 (200-day SMA/Jun 26 high), 0.8967 (Jun 23 high) and 0.8998/0.9000 (Jun 18 high/psychological level). On the other hand, supports are seen at 0.8885 (Jul 3 low), 0.8870 (100-day SMA) and 0.8855 (Jul 1 low).



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