The USD plummeted across the board after data showed US economy added fewer jobs than expected in August, while previous month figures were downwardly revised, raising doubts whether the Fed is ready to begin tapering its bond purchases later this month.
USD/CHF came under strong pressure and retreated from 7-week highs as knee-jerk reaction to the data, although it managed to bounce and recover some ground afterward. At time of writing, USD/CHF is trading at the 0.9425 zone, having bottomed out at 0.9384.
In terms of technical levels, on the downside supports for USD/CHF are seen at 0.9384 (daily low) and 0.9351 (Sep 5 low), while on the upside, resistances could be found at 0.9455 (daily high) and 0.9496 (Jul 16 high).