USDCHF analysis for 06.07.2016

USDCHF is chiefly under the influence of economic data from the US such as Markit Comp PMI, Markit Svcs PMI, ISM Non-Manuf Composite, Trade Balance and MBA Mortgage Applications. This pair is going up the ascendant channel. The support rests at 0.97700 with resistance at 0.97870 which both lines are above the weekly pivot point at 0.97550. The EMA of 10 is rising as well and it is located above the EMA of 75. The RSI is reaching the overbought area, the MACD indicator is in neutral zone and the Stochastic is moving in high ranges. The price is above the Ichimoku Cloud and it is above the Chinkou Span. The Tenkan-sen shows an upward movement and the Kijun-sen is moving horizontally. The pair is going higher targeting 1.0255.

https://fxglory.com/usdchf-analysis-for-06-07-2016/