- Swiss franc among the best performing currencies for the week.
- USD / CHF falls for the seventh day in a row.
The USD / CHF cut through a consolidation range, breaking below 0.9040 and declining to 0.9022, the lowest level since June 16.. In this way, the pair resumes the downward paths and aims to have the seventh fall in a row. The dollar could not recover after the July meeting of the Federal Reserve.
The combination of a stronger Swiss franc in the market and a weak dollar continue to spur USD / CHF lower, despite oversold indicators. The next relevant support level looms at 0.9000, while to the upside, the 200-day average at 0.9075 may become a key resistance zone.
The Swiss franc in addition to rising steadily against the dollar, it also rises against the euro. EUR / CHF is trading at 1.0730, the lowest level so far this year.
The June factory orders report will be published later on Tuesday (consensus: + 1%). In addition, Michelle Bowman, governor of the Federal Reserve, will speak at a seminar on economic recovery. The relative light calendar is going to be loaded in the coming days, culminating on Friday with the official employment report for July, which is estimated to show an increase in jobs of 880,000.
Technical levels
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