#USDCHF @ 0.93556 climbs steadily, bolstered by US economic data and speculation for further Fed tightening. (Pivot Orderbook analysis)

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• USD/CHF climbs steadily, bolstered by US economic data and speculation for further Fed tightening.
• The USD/CHF pairs bounced at around a top-trendline of a falling wedge which turned support around 0.9250.
• A daily close above 0.9366 could send the USD/CHF rallying towards 0.9400 and beyond.

The pair currently trades last at 0.93556.

The previous day high was 0.9375 while the previous day low was 0.9253. The daily 38.2% Fib levels comes at 0.93, expected to provide support. Similarly, the daily 61.8% fib level is at 0.9328, expected to provide support.

The USD/CHF erases Wednesday’s losses and rises more than 70 pips on Thursday, clearing on its way north solid resistance levels, like the 20-day Exponential Moving Average (EMA) at 0.9322. Factors like the release of robust labor market data in the United States (US) lifted the USD/CHF from around daily lows of 0.9260. At the time of writing, the USD/CHF is trading at 0.9360.

After finding support at around 0.9200, the USD/CHF resumed its uptrend, eyeing a break above Wednesday’s daily high of 0.9366. The USD/CHF dropped towards the top-trend line of a falling wedge, previously broken during the week, turned support. Hence, the major bounced at around 0.9250 and aimed toward a downslope resistance trendline that passed around 0.9370.

If the USD/CHF achieves a daily close above 0.9366, that could open the door for further upside, implying a test of the 0.9400 mark, which, once cleared, would send the USD/CHF aiming towards the 100-day EMA at 0.9445, followed by a test of 0.9500.

As an alternate scenario, the USD/CHF first support would be the 20-day EMA at 0.9322, followed by the 0.9300 figure and the top trendline of a falling wedge that resides around 0.9250.

Technical Levels: Supports and Resistances

USDCHF currently trading at 0.9355 at the time of writing. Pair opened at 0.93 and is trading with a change of 0.59 % .

The pair is trading above its 20 Daily moving average @ 0.9301, below its 50 Daily moving average @ 0.9499 , below its 100 Daily moving average @ 0.9649 and below its 200 Daily moving average @ 0.9644

The previous day high was 0.9375 while the previous day low was 0.9253. The daily 38.2% Fib levels comes at 0.93, expected to provide support. Similarly, the daily 61.8% fib level is at 0.9328, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 0.9244, 0.9188, 0.9122
• Pivot resistance is noted at 0.9365, 0.9431, 0.9487

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