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Forex: USD/CHF stays above 0.9400

FXstreet.com (Barcelona) - The USD/CHF is inclined to the upside and held above the 0.9400 psychological level after the decline from 0.9434 high since the European opening. The pair is currently trading at 0.9412 (+0.18% on the day).

The US NFP report is the main attraction of the day and investors will be watching the publication closely. Market consensus points to 200K added jobs in March, following the 236K added in February. Risks are seen to the downside due to uncertainty from sequestration.

“USD/CHF has charted a key day reversal and eroded its uptrend, it is vulnerable to further losses and the Elliott wave count on the daily and 50% retracement lie at 0.9307/0.9295 and we suspect that this is where the market is now heading”, wrote Commerzbank analyst Karen Jones, adding that intraday rallies will find resistance at 0.9415/55 and while capped here will remain directly offered.

Forex: USD/JPY finds support at 96.00 ground ahead of US NFP

From the 97.19 high printed during the Asian session, the USD/JPY fell across the chart to test the support at 96.00 psychological level and reached as low as 95.86 before bouncing and retest the 96.00 ground on the upside. The market is currently close to flat levels on the day, at 96.27.
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