Forex: USD/CHF bounces to 0.9398 post NFP's

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FXstreet.com (Barcelona) - USD/CHF has continued its climb today following the extremely positive US Non Farm Payroll figures.

Payrolls came in at 171K in October shattering the market consensus view of a rise to 125K from the revised 114K figure in September. Elsewhere, US and Canadian Unemployment came in line at 7.9% and 7.4% respectively. With the open ended nature of QE3 being targeted ,at least partially, at bringing down unemployment, the surprise figures saw a consequential surge of USD strength. The spike higher saw spot find resistance at R3 resistance at 0.9398 before retracing, but with the positive US open, spot looks positioned to target the October high 0.9433 should momentum carry it above 0.9400.

Forex Ticket analysts are neutral on the pair and see support and resistance at 0.9360/0.9325/0.9275 and 0.9415/0.9440/0.9485. Elsewhere, stocks are broadly up on both sides of the Atlantic whilst commodities are broadly lower.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Forex and Currencies

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