USD/CHF is under pressure as the key resistance is set at 0.9915. The pair stays below its resistance at 0.8490, and is capped by its 50-period moving average. Meanwhile, the 20-period moving average is still below the 50-period moving average, and the relative strength index is around its neutrality area at 50, lacking upward momentum.
The U.S. Labor Department reported that nonfarm payrolls increased by 211,000 in April, higher than +188,000 expected. The jobless rate edged down 0.1 percentage point to 4.4% (vs. 4.6% expected), its lowest level since May 2007.
As long as the key resistance at 0.9915 is not broken above, the risk of a break below 0.98660 remains high. A further down leg to 0.9840 and 0.9810 is also likely.
Resistance levels: 0.9930, 0.9950, and 0.9975
Support levels: 0.9860, 0.9840, and 0.9810
