The USD/CHF pair has been trending downwards since the 29th of January 2016, with the sellers leading the price from as high as 1.0256 to as low as 0.9924.
During the course of the day on Thursday, the pair fell considerably from 1.0074 down to 0.9924. Today, ahead of the U.S. labour market data (economy expected to have added 190,000 jobs in January), the pair is hovering over this area, currently trading at 0.9947. In the event that the bulls manage to overweigh sellers in trading volume and push the price above 1.0002, profit targets could be set at 1.0050 and 1.0090 respectively.
On the flip side, in the scenario where the sellers keep pressing the pair below 0.9924, the price could find support at 0.9895 and 0.9833 in extension.
Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.