USD/CHF extends near-term consolidation phase, NFP holds the key

The USD/CHF pair extended its near-term consolidative price-action and is now rebounding from the lower end of 7-day old, 100-pips broader trading range. 

Currently trading back above 1.0100 handle, renewed greenback buying interest, as measured by the overall US Dollar Index, is seen helping the pair's recovery from the vicinity of weekly low support near 1.0090 region. Moreover, the Swiss Franc is also being weighed down by disappointing release of quarterly economic growth data from Switzerland. In fact, the Swiss GDP was significantly below consensus estimates and remained unchanged during the third quarter of 2016.

All eyes remain focused on today's US monthly jobs report (NFP), which would help investors to determine the greenback's near-term trajectory and eventually provide fresh impetus for the pair's near-term direction. 

Technical levels to watch

A follow through buying interest above 1.0130 is likely to get extended towards 1.0170 horizontal resistance above which the pair seems all set to surpass 1.0200 handle and aim towards yearly high resistance near 1.0250-55 region. On the flip side, 1.0075 level (weekly low) now seems to protect immediate downside, which if broken is likely to accelerate the slide towards parity mark with 1.0050 region acting as intermediate support.