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The analysis of HFT algorithms ahead of the US Nonfarm Payrolls release later today shows that the EURCHF pair is reversing at the light HFT selling pressure zone that is located at 1.0744 and above.
Volatility is set to increase across the Fx market around 8:30 ET, when the US reports employment data. The EURCHF pair won't be excluded from the volatility, although it should be less affected than USD pairs.
The recent trend on EURCHF was firmly bearish on lower timeframes, and it will be no surprise if this trend prevails in the aftermath of the volatile action today.
EURCHF bears will be looking for downside potential toward the light HFT buying pressure zone that is located at 1.071 and below.
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