A broad based Dollar pullback following the U.S ADP data and USD/CHF has fallen to 1.2155 from 1.2170. The market was already retracing its steps having topped out at 1.2188-90 earlier in the session. The ADP jobs report shows that 64,000 new jobs were added to the private sector in April, which is clear below 105,000 market consensus.
The data might give some indication that Friday's non-farm payroll data might undershoot the market forecast. USD/CHF has support at 1.2130, intraday lows, and initial resistance at the 1.2188 hourly top.
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