USDCHF is trading higher today at 0.9943 despite better than expected Swiss unemployment rate, which came in at 2.1% versus expectations of 2.2%. USD helped by better NFP figures that cut analysts’ expectations for a 50 basis point cut in July by FED.
The pair continues the rebound from the yearly low at 0.9690, but still the bears are in full control as the pair trading below all major daily moving averages. First support stands at 0.9912 the 50 hour moving average while extra bids will probably emerge at 0.9884 the 100 day moving average. On the upside immediate resistance for the pair stands at 0.9988 strong resistance from the 50 and 200 day moving averages and next at 1.001 at the 100 day moving average.Don’t miss a beat! Follow us on Twitter.