USDCHF analysis for 08.01.2018

Switzerland has published Inflation Rate YoY and Foreign Exchange Reserves and the US will release Consumer Inflation Expectations. The support rests at 0.97340 with resistance at 0.97790 which the weekly pivot point at 0.97450 is located in between the lines. The EMA of 10 is moving with bullish bias in the descendant channel and it is located below the EMA of 200 and the EMA of 100. The RSI is rising above the 50 level, the MACD line is above the signal line in the positive territory and the Stochastic is showing upward momentum. The ADX is showing buy signals. The price is in the Ichimoku Cloud and above the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a horizontal trend. The price is growing up towards 0.985. https://fxglory.com/usdchf-analysis-for-08-01-2018/