USD is growing against CHF within the broad upwards channel. Over a week, the pair gained more than 100 points due to strong fundamental statistics from the United States. Yesterday strong Producer Price Index supported the dollar. The pair has almost reached a strong resistance level, tested twice in June (0.9990).
At the end of the week, key US data will determine the future dynamics of the instrument: on Thursday, inflation data and Initial Jobless Claims will be published.
Support and resistance
The upward momentum will develop to the level of 1.0055 (the high of May beginning) and higher.
The instrument is trading within a canopy upward channel, which it can leave only after significant fundamental events. US Fed intends to tighten monetary policy and raise rates, which will strengthen USD. On the daily chart, the indicators confirm the growth forecast, MACD maintains high volumes of long positions, Bollinger bands are directed downwards.
Resistance levels: 0.9975, 0.9990, 1.0030, 1.0055, 1.0130, 1.0150.
Support levels: 0.9900, 0.9850, 0.9770, 0.9700, 0.9665, 0.9560, 0.9500.
It is relevant to increase the volumes of long positions from the current level with the target at 1.0055 and stop loss 0.9940.
US Dollar vs Swiss Franc
|Support levels||0.9500, 0.9560, 0.9665, 0.9700, 0.9770, 0.9850, 0.9900, 0.9975, 0.9990, 1.0030, 1.0055, 1.0130, 1.0150|
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