FX.co ★ USD/CHF - Risk Rally Continues!

USD/CHF increased as much as 0.9207 today trying to take out other short-term upside obstacles. USDX's growth helped the greenback to appreciate versus its rivals. So, the pair will be expected to approach and reach new highs if the US Dollar Index jumps higher.

USD stays higher even if the US ADP Non-Farm Employment Change and the ISM Services PMI indicators come in worse than expected. The greenback received a helping hand only from the Final Services PMI which has increased unexpectedly from 58.9 to 59.8 points.

The US Unemployment Claims and the Factory Orders could bring more volatility today. USD could continue to increase ahead of the US NFP, Unemployment Rate, and Average Hourly Earnings. These high-impact indicators will be released tomorrow and could boost the USD or could ruin it.

USD/CHF Upside Breakout!

USD/CHF has managed to jump above 0.9193 former high and beyond the R2 (0.9199) level signaling strong buyers. Closing above the R2 could signal further growth up to the third warning line (WL3) or higher approaching the R3 (0.9296) and the 0.93 psychological level.

USD/CHF is strongly bullish, the current upwards movement was signaled and validated by the valid breakout above the first warning line (WL1). It should jump way higher despite any temporary drop.

Forecast & Tips

Buy USD/CHF if the rate closes above the R2 (0.9199) and use the R3 (0.9296) as an upside target.