USDCHF rises into a key resistance as traders turn their focus to the US NFP report

USDCHF is gaining traction as it approaches the key resistance point of 0.80. Despite mixed US economic data, the US dollar remains supported. The market is closely monitoring the upcoming US NFP report to gauge the next directional move. Recent figures have shown a soft ISM Manufacturing PMI but a strong Services PMI. The market is currently pricing in 62 basis points of easing by year-end, with a 57% chance of a Fed rate cut appearing as early as March. On the Swiss side, the currency is largely influenced by risk sentiment, as the SNB maintains a wait-and-see approach. The Swiss CPI matched expectations, leaving little room for policy changes in the near future. Technically, USDCHF has bounced from the 0.7970 level, with a focus on the notable resistance near 0.80. Traders are weighing potential short positions here as past rejections hint at a possible pullback, while the breakout above this level could encourage bullish momentum towards 0.81. The market awaits upcoming US jobless claims today and significant developments from the NFP report tomorrow.