EUR/USD range and USD/CHF breakdown risk into payrollsIn a shortened US week, August jobs data will be the key event.
Nonfarm payrolls, the unemployment rate, wage growth, the ADP report, the JOLTS, and Challenger job cuts will all reveal whether the labour market continues the sharp slowdown seen in prior releases.
For Europe, attention will be on inflation prints from both the Eurozone and Switzerland, providing fresh direction for EUR- and CHF-linked pairs.
On the 4H chart, EUR/USD is trading around 1.1680, caught in a choppy sideways range. Price has repeatedly tested both support near 1.1640 and resistance. Strong jobs data could weigh on the pair and push it back below 1.1640, while weaker labour data may allow a breakout toward 1.1740–1.1780.
USD/CHF shows a rounding top pattern on the 4H timeframe, with price pressing the neckline near 0.8000. Sellers have steadily pushed lower highs since mid-August, and this pattern could hint at further downside momentum.
