Forex
USD/CHF Struggles Below 0.8100 Amid Weak US Employment Data
The USD/CHF pair continues to struggle below the 0.8100 mark, weighed down by the disappointing US Nonfarm Payrolls (NFP) data from Friday.
The weak employment numbers tempered bets of an immediate interest rate hike by the Federal Reserve, which in turn has undermined the US Dollar and capped the USD/CHF pair.
Investors still price in a possibility that the Fed will raise borrowing costs by the end of this year due to inflation risks stemming from energy supply disruptions.
A break below the 50-day Simple Moving Average (SMA) is seen as a key trigger for USD/CHF bears, paving the way for a decline to a dense Fibonacci support band between 0.8037 and 0.7932.