USD/CHF sits under 0.88, but tries to rebound back

FXStreet (Moscow) - USD/CHF slid down below 0.88 on the mass USD sell-off yesterdayб reaching 0.8780 low, but rebounded to 0.8793 at the moment.

Swissy will take another chance to extend the rise

Although the pair already lost almost 100 pips during the American session on Thursday, and bumped into support level at 0.8780, it still has a potential to go lower. The new test for the pair will be the Non-Farm Payrolls release that is forecasted to show the increase of the new jobs in the USA by 150K. Nevertheless, given the recent series of data from labor market, and bad weather conditions during February, significantly slowing the business activity, the chances for disappointment are quite high. Thus, the new wave of sell-off is not ruled out with initial target at 0.8769 support level.

What are today’s key USD/CHF levels?

Today's central pivot point can be found at 0.8831 with support below at 0.8769, 0.8733, and 0.8671, with resistance above at 0.8867, 0.8929, and 0.8965. Hourly Moving Averages are largely bearish, with the 200SMA at 0.8863 and the daily 20EMA bearish at 0.8895. Hourly RSI is neutral at 27.