19 July USDCHF Technical Outlook: Pair extends higher


After failing to make a daily close above the critical parity level since the start of the week, the USDCHF pair gathered strength on Thursday and advanced to a daily high at 1.0030. What technical levels should traders now consider? The following 19 July USDCHF Technical Outlook comes handy.

19 July, GKFX – As of writing, the pair was trading a couple of pips below that level and adding 40 pips, or 0.4%, on the day.

USDCHF Fundamental Highlights

Earlier today, a sharp drop witnessed in the GBPUSD pair following the dismal retail sales data from the UK allowed the greenback to break above the 95 mark. Furthermore, the data from Switzerland showed that the trade surplus eased to 2.591 million CHF to fall short of the experts’ estimate of 3,220 million CHF and weighed on the swissy.

At the beginning of the NA session, weekly jobless claims and Philly Fed Manufacturing Index figures will be looked upon for fresh impetus. Positive readings could provide an additional boost to the USD and allow the pair to push higher.

At the moment, the US Dollar Index is at its highest level since July 2017 at 95.37 and is up nearly 0.6% on the day.

19 July USDCHF Technical Outlook

On the upside, resistances align at 1.0065 (Jul. 13 high), 1.0100 (psychological level) and 1.0155 (Mar. 8, 2017, high). Supports on the other hand, could be seen at 1.0000 (psychological level/parity), 0.9950 (20-DMA) and 0.9915 (50-DMA).

Disclaimer

This article 19 July USDCHF Technical Outlook was provided by GKFX. The information provided herein is for general informational and educational purposes only. It is not intended and should not be construed to constitute advice.

If such information is acted upon by you, then this should be solely at your discretion, and GKFX will not be held accountable in any way.

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