USD/CHF hits fresh session low below 1.0150 level

The USD/CHF pair's recovery move lost steam near 1.0220 region and is now heading back towards the lower end of daily trading range. 

Currently trading around 1.0140 level, testing session lows, the pair ran through fresh offers after disappointing ADP report that showed US private sector employers added 153K new jobs in December, worse than 170K expected and November's 215K. 

Meanwhile, the number of people claiming for employment related benefits unexpectedly dropped to 235K for the week ended Dec. 30, down from 263K reported in the previous week and was far less-than 260K expected. A higher-than-expected drop in weekly jobless claims failed to contribute in limiting the damage and the pair was seen fast approaching last week’s swing lows. 

Today's mixed labor market report, however, did little to dent the greenback’s well-established bullish trajectory, albeit might now be increasingly reliant on Friday's official NFP data. 

Next on tap would be the US ISM non-manufacturing PMI print for December, due in a short while from now.

Technical levels to watch

A follow through selling pressure below 1.0150 could accelerate the slide towards 1.0125 level (Dec. 30) before the pair eventually breaks below 1.0100 handle and head towards testing 50-day SMA support near 1.0075 region. 

On the upside, 1.0200 handle now becomes immediate hurdle, which if cleared might trigger a short-covering rally towards 1.0230 resistance, en-route 1.0270-75 strong resistance.