USD/CHF weaker below 0.97 handle, NFP in focus

The USD/CHF pair extended previous session's retracement from the 0.9720-25 supply zone and traded with a negative bias for the second consecutive session on Friday.

At the time of writing, the pair was trading lower by 10-pips and was being weighed down by persistent greenback selling bias. In fact, the key US Dollar Index was seen struggling near 15-month lows and has failed to assist the pair to build on last week's sharp up-move to the highest level since June 27. 

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Heading into the key event risk - the closely watched NFP report, the prevalent cautious environment was also seen lending support to the Swiss Franc's safe-haven appeal and further collaborated to the mildly weaker tone surrounding the major. 

On the last trading day of the week, investors' focus would remain glued to the US monthly jobs data, due for release later during the NA session. The US employment details could have an impact on the Fed's near-term monetary policy outlook and should drive the greenback in the near-future, eventually provide some fresh impetus for the pair's next leg of directional move. 

Technical levels to watch

Immediate support is pegged near the 0.9640-35 region, below which the pair could head back towards the 0.9600 handle en-route 0.9560-50 support zone. On the flip side, momentum back above the 0.9700 mark might continue to confront some fresh supply near the 0.9720-25 region, above which the pair is likely to dart towards 0.9755-60 horizontal resistance ahead of 100-day SMA near the 0.9800 handle.