USD/CHF flirts with 200-DMA ahead of Payrolls

The USD/CHF pair is seen trading quite choppy so far this quiet European session, awaiting fresh impetus from the upcoming US jobs data.

USD/CHF upside capped by 5-DMA at 0.9812

Currently, the USD/CHF pair trades almost unchanged at 0.9804, having bounced-off a dip to session lows struck at 0.9792 last hours. USD/CHF is trying hard to keep the bids as a typical pre-NFP cautious tone prevails across the financial markets and offers some supported to the safe-haven appeal in the CHF.

While the downside remains capped as the US dollar makes a minor-recovery attempt against its major peers, after the recent poor ISM PMI backed steep losses. The USD index now rises +0.16% to 95.81, making headways for a test of 96 handle.

Later today, the US jobs report is likely to emerge the main market moving event for this week, with markets expecting 180l job additions versus 255k booked last month.

USD/CHF Technical Levels

To the upside, the next resistance is located at 0.9867 (daily R1) and above which it could extend gains to 0.9900 (round number). To the downside, immediate support might be located at 0.9771/65 (50 & 100-DMA) and below that 0.9750 (psychological levels).