Strong NFP print lifts USD/CHF to 200-DMA

The USD/CHF pair added on to Thursday's bullish momentum and has now risen to the very important 200-day SMA region after the release of strong NFP headline number. After struggling below 200-day SMA resistance for almost two weeks, the pair finally broke through the important resistance and extended its up-surge to currently trade at 5-week high level of 0.9860.

According to the US labor department's non-farm payrolls (NFP) data, the economy added 287,000 jobs during the month of June, recording its strongest rise since October. The headline number was well above expected print of 175,000. 

Meanwhile, the unemployment rate rose to 4.9% from 4.7% recorded in May while average hourly wages recorded a meager growth of 0.1% on a monthly basis but was up 2.6% for the last 12 months, matching the highest level of the recovery.

The only disappointment from the report was May's dismal figure was revised even lower to show a addition of just 11,000, the weakest reading since 2010. April number, however, was revised higher from 123,000 to 144,000.

Technical levels to watch

From current levels, the pair could eyeing to reclaim 0.9900 handle before heading towards May month highs resistance near 0.9950 region. On the downside, weakness back below 0.9820-15 immediate support would negate the bullish break-out, turning the pair vulnerable to further downside in the near-term.