Forex

Buying USDCHF on Positive US Job Report

Published

8 years ago

August 5, 2016

If the US labor market added more jobs than expected today, I will be looking to buy USDCHF pair. Targeting parity explained two weeks ago.

This is because after the Swiss National Bank (SNB) intervened in its foreign exchange market to curtail Brexit effects, its holdings of foreign currencies dipped to record low of 615.4 billion, which signals drop in investors’ confidence and a substantial capital flight.

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A sustained break of 0.9843 resistance level above the channel should increase sell-off of the Swiss Franc against the US dollar, and strong enough to open up 1.0000 parity. A break of 0.9630 support level will nullify this call.

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Samed Olukoya

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

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Buying USDCHF on Positive US Job Report

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