USD/CHF consolidating around 100-DMA, NFP to determine further direction

The USD/CHF pair continued with its consolidative move around 100-day SMA for second day running, awaiting for fresh impetus from today's US monthly jobs report. 

During early part of the week we saw the pair extending its sharp reversal and drop to a two month low level before witnessing a sharp recovery on Wednesday to erase all of its weekly losses and move back above 0.9700 handle.

On Thursday, the pair did attempt to build on to its Wednesday's sharp recovery gains but failed to extend it beyond mid-0.9700s. However, the retracement from weekly high has been limited, with the pair currently trading around 0.9730 region.

Focus remains on today's NFP data, which historically has been known for generating volatility in global financial markets and provides near-term direction for the greenback.

Technical levels to watch

On the upside, 50-day SMA near 0.9760 region seems to act as immediate resistance, which if cleared now seems to pave way for continuation of the pair's upward trajectory back towards 200-day SMA resistance near 0.9855-60 region, with 0.9800 round figure mark providing some intermediate resistance.

On the flip side, sustained weakness below 0.9730-20 region (100-day SMA and Thursday's low) seems to drag the pair back towards 0.9685-80 support before extending its slide further towards 0.9650 support.