FX.co ★ blaise.rogahn | USD/CHF

USDCHF declined by the end of the day, just as I had forecast. A breakout of the 78.6 Fibo level at 0.8030 could open the way for USDCHF to 0.8010, but right now there is a rebound up to the 0.8050 resistance. The dollar is weakening due to labor market problems. Yesterday’s initial jobless claims in the US were recorded at a high four-week average level of 218.75K. And before that, NFP came out with a disastrous employment result, showing an increase of only +57,000 new jobs. CHF, on the contrary, has become more in demand due to recent geopolitical shocks in the Middle East. Donald Trump is seriously considering a ground operation. Although, as always, the statements of the US president are contradictory.