USDCHF analysis for 16.08.2017

USDCHF is chiefly under the influence of the US economic reports such as FOMC Meeting Minutes and Building Permits. The support rests at 0.97160 with resistance at 0.97400 which both lines are above the weekly pivot point at 0.96560. The EMA of 10 is moving with bullish bias along the ascendant channel and it is located above the EMA of 200 and the EMA of 100. The RSI is moving horizontally above the 50 level, the MACD indicator is in positive territory and the Stochastic is moving in middle ranges. The ADX is showing buy signals. The price is above the Ichimoku Cloud and the Chinkou Span. The Tenkan-sen is showing an upward trend while the Kijun-sen is showing a horizontal trend. The resistance level breakout will ease the way for further growth towards 0.9800; otherwise, it will drop to 0.96710. https://fxglory.com/usdchf-analysis-for-16-08-2017/