Current trend

During the Asian session today, the USD/CHF pair continued growing.

It seems that despite poor Friday’s data on the NFPR for August from the US, that came out worse than expectations, the markets gain confidence that the Fed is likely to increase its interest rates at the 17 September meeting. The USD strengthening in pairs with safe-havens Yen, Gold and Franc supports this assumption.

This week pay attention to the data on the Unemployment Rate in Switzerland and the Revised GDP for the eurozone for the second quarter, due on Tuesday, and the Final CPI for Augustin Germany, PPI and Preliminary UoM Consumer Sentimentfor August in the US on Friday.

Support and resistance

A slight downward correction in the pair is possible today.

On the daily chart, OsMA and Stochastic signal purchases, while on the 4-hour chart the indicators formed a sell signal.

The breakdown of the level of 0.9625 (EMA200 on the 4-hour chart) would allow the pair to fall to 0.9570, 0.9500 (ЕМА200 on the daily chart).

Supportlevels: 0.9705 (Asiansessionlows), 0.9700, 0.9685 (Fridaylows), 0.9660 (ЕМА50), 0.9640 (ЕМА144 on the 4-hour chart), 0.9625, 0.9600.

Resistance levels: 0.9765, 0.9795.

Trading tips

Open long positions from the levels of 0.9700, 0.9685, 0.9660with targets at 0.9760, 0.9795, 0.9850 and stop-loss at 0.9640.

Short positions can be opened after the breakdown of the level of 0.9570 сцелями 0.9530, 0.9500.

USD/CHF: flat till Tuesday

USD/CHF: flat till Tuesday

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