USD/CHF rallies to 6-day high after US NFP

USD/CHF advanced to a fresh weekly high as the dollar benefitted from better-than-expected US jobs data.

USD/CHF rose nearly a full cent, breaking through several resistance levels to reach a peak of  0.9829 in recent dealings. The pair was last trading at 0.9825, recording a 0.89% gain on Friday.

USD/CHF levels to watch

In terms of technical levels, next resistances are seen at 0.9856 (200-day SMA), 0.9893 (Jul 12 & 13 highs) and 0.9949 (Jul 27 high). On the other hand, supports could be found at 0.9731 (100-day SMA), 0.9720 (Aug 4 low) and 0.9700 (psychological level).

US economy adds 255,000 jobs in July

US nonfarm payrolls report showed a 255,000 job gain in July, versus 180,000 expected but down from June’s upwardly revised 292,000. The unemployment rate stood at 4.9% versus 4.8% expected.