#USDCHF @ 1.00410 The dollar consolidates right below long-term highs at 1.0075. (Pivot Orderbook analysis)

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• The dollar consolidates right below long-term highs at 1.0075.
• A pullback in risk appetite has favored the USD.
• Upside moves remain capped by a key resistance area of 1.0065/75.

The pair currently trades last at 1.00410.

The previous day high was 1.0063 while the previous day low was 0.9929. The daily 38.2% Fib levels comes at 1.0012, expected to provide support. Similarly, the daily 61.8% fib level is at 0.998, expected to provide support.

The US dollar remains steady above parity levels on Thursday, at a short distance to the 1.0075 three-year high. The pair’s reversal from 1.0065 has been supported at 0.9995 and the pair appreciated again during the US session to reach the 1.0050 area.

The greenback depreciated across the board earlier today as UK Prime minister Liz Truss’s resignation triggered a risk-on sentiment. Optimism, however, has been short-lived and the US dollar regained lost ground later on.

The upcoming Federal Reserve monetary policy meeting, which is expected to deliver a fourth consecutive 0.75% rate hike continues underpinning the US dollar.

Furthermore, US macroeconomic data has been moderately positive. Initial jobless claims increased below expectations on the week of October 14th, while existing home sales declined less than expected.

The pair is moving now right below an important resistance area at 1.0065/75 (October 13, 14 highs). Confirmation above that level would set the pair at three-year highs, aiming for the May 20 2019 high at 1.0120 ahead of April 25 2019 high at 1.0225.

On the downside, initial support lies at 0.9920 (Oct .18 low and the 100-period SMA in the four-hour chart) below here 0.9780 (Oct. 4 and 6 lows) and 0.9740 (Sept. 30 low).

Technical Levels: Supports and Resistances

USDCHF currently trading at 1.0041 at the time of writing. Pair opened at 1.0043 and is trading with a change of -0.02 % .

The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 0.9909, 50 SMA 0.9748, 100 SMA @ 0.9711 and 200 SMA @ 0.9563.

The previous day high was 1.0063 while the previous day low was 0.9929. The daily 38.2% Fib levels comes at 1.0012, expected to provide support. Similarly, the daily 61.8% fib level is at 0.998, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 0.996, 0.9877, 0.9826
• Pivot resistance is noted at 1.0095, 1.0146, 1.0229

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