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USDCHF is consolidating in a narrow range after a minor pullback. It hit a low of 0.80304 on Monday and is currently trading around 0.080793.
US initial jobless claims saw a slight uptick to 226,000 for the week ending August 2, 2025, a modest increase above expectations that suggests a stable yet cautiously managed labor market amidst economic uncertainties. Furthermore, continuing jobless claims rose to 1.97 million, the highest since November 2021, indicating some softening in employment and a cooling trend in job creation, rather than a surge in layoffs. This data aligns with recent weaker job reports and broader concerns over trade policies, collectively pointing to a resilient but gradually decelerating US labor market.
Technical Analysis Points to Further Upside
The pair is trading above the 55-EMA, 200 EMA, and 365 EMA on the 15-min chart, indicating a mixed trend. The immediate resistance is at 0.8135, any break above targets 0.8170/0.8215/0.8250.
Support Levels and Potential Declines
On the downside, near-term support is around 0.8060; any violation below will drag the pair to 0.8040/ 0.8020/0.7980/0.7920/0.7860/0.7800.
Indicators (15-min chart)
CCI (50) - Bullish
Directional Movement Index - Neutral
Trading Strategy Recommendation
It is good to buy on dips around 0.80600 with a stop-loss at 0.80250 for a TP of 0.8170/0.8215.
