USD/CHF Below Resistance

USD/CHF is trading below resistance ever since it passed the level of 0.9800. The pair has been outside the upward trading channel and looks like bulls would need strong support from fundamentals so that price could start to rise again.

Today's data will most likely have a big impact on all US pairs as we are anticipating the most important release of the month, i.e. the Jobs and NFP report.

Yesterday's initial jobless claims turned out to be higher than expected but that did not have any significant impact on the pair.

If today's news are in favor of the US dollar, we will probably see the USD/CHF return to the trading channel above 0.98. If not, the downside potential expands to a target below 0.9650.

Chart: USD/CHF D1