Forex Marketz Daily Forex News – Fully Markets Update
Looking at the benchmark USD/CHF currency exchange rate and above daily MT 4 chart, the U.S dollar (USD) is now trading above 0.9215 Swiss franc (CHF) and challenging a falling trend line in play since 30 June.
Today’s economic calendar is quiet. The Swiss National Bank (SNB) will release their monetary policy assessment. The world’s largest economy, the United States has key labor data on the schedule. The U.S. Labor Department will publish their weekly first time unemployment claims as well as weekly continuing claims jobs data. The U.S. will also publish monthly existing home sales data and weekly natural gas storage levels.
Germany will release their monthly Ifo business climate survey. The United Kingdom and Canada have no economic data events on their calendars.
Daily U.S. Dollar Technical Analysis (USD/CHF)
Looking at the above MT 4 price chart the almighty dollar has risen to its highest price point since 3 August against the Swiss franc. The dollar is also trading above the fifty (50) day exponential moving average (EMA) and the 14 day MACD histogram is still indicating a bullish trend in the USD/CHF Forex market.
With that said, a daily and sustained close above the upside barrier in play at 0.9220 will open the door to challenge a congestion in play at 0.9240 to 0.9245. This area is home to the August high price point. The next upside barrier is in play at the one hundred (100) day exponential moving average that lines up at 0.93.
On the downside, the first layer of technical support lines up at the 8 September high price point as well as the 50 day exponential moving average at 0.92. The next downside barrier comes into play at 0.9180.
The next layer of technical support to monitor lines up at the 20 August high price point at 0.9160. However, the rising trend line support in play since 1 September is the key downside barrier to watch. This layer of support is at 0.9080.
