FX.co ★ blaise.rogahn | USD/CHF

Hello colleague! Today, as I mentioned earlier in another thread, we are experiencing a quite flat day due to holidays in the USA and EU. However, the release of non-farm data from the USA did cause a small price spike. Since the data came out significantly better than forecasted, the USDCHF rate easily jumped to the resistance at 0.8026, from where it was quickly pushed back below the level of 0.7996 and towards the lower boundary of the hourly ascending channel. Moving forward, it's quite simple - if the price consolidates above the level of 0.7996, then I expect a continuation of the uptrend towards the resistance zone of 0.8026 - 0.8057, with possible subsequent attempts to decrease.

Otherwise, a downward scenario of price movement will start - a decline towards the supports at 0.7965 and 0.7935, from where there might be further corrective growth attempts. However, it remains important for buyers that the price stays above the Murray level of 0.7935. I do not expect any significant movements today, rather a flat market and news digestion until Monday.