USD/CHF could resume its growth after ignoring the immediate resistance levels. The greenback is strongly bullish after the US data came in better than expected earlier. DXY’s further growth should help USD/CHF to resume its growth and to approach new highs. USD/CHF price rallied and now is traded at 0.9108 below 0.9110 today’s high. The Dollar Index has resumed its growth. That’s why the dollar has appreciated. We have a strong positive correlation between DXY and USD/CHF. So, if the index increases, the currency pair is expected to increase as well. –Are you interested to learn more about automated forex trading? Check our detailed guide- If you look at the economic calendar, you’ll notice that the US data has come in better than expected earlier, boosting the USD. The Non-Farm Employment Change was reported at 943K in July versus 850K in June, exceeding the 850K estimate. The Unemployment Rate dropped unexpectedly lower as well, from 5.9% to 5.4%, far below the 5.7% forecast, while the Average Hourly Earnings increased by 0.4%, beating the 0.3% estimate. Get FREE Forex Signals Now! USD/CHF price technical analysis: Bulls to roar USD/CHF 4-hour price chart The USD/CHF pair has found support on the descending pitchfork’s lower median line (LML) and now is traded above the median line (ML) and beyond the weekly pivot point (0.9097). Personally, I’ve drawn an ascending pitchfork, hoping that I’ll catch an upside movement. –Are you interested to learn more about forex signals? Check our detailed guide- You can see that the price has retested the lower median line (LML) of the ascending pitchfork, confirming it as dynamic support as well. Actually, USD/CHF has printed a major bullish engulfing on the confluence area formed at the intersection of the lower median lines (LML). Confirming the ascending pitchfork, the USD/CHF pair signaled a potential upside towards the median line (ML). DXY technical analysis DXY 4-hour price chart DXY almost reaches the descending pitchfork’s upper median line (UML), which is seen as an upside target. It was somehow expected to increase after failing to close below 38.2% and after jumping above the median line (ml). Making a valid breakout above the upper median line (UML) and resuming its growth could help the USD/CHF resume its growth. On the other hand, DXY’s potential drop from the upper median line (UML) may signal a USD/CHF drop. Looking to trade forex now? Invest at eToro! Trade Forex Now! 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Olimpiu Tuns Olimpiu Tuns Olimpiu Tuns graduated with a Master in Business Administration and is a seasoned Market Analyst / Trader / Trainer with 10 years of experience in the financial markets having expertise in Forex, Commodities, Index, Cryptocurrencies, and Stocks. He worked as a Market Analyst for three major brokerage companies, as a prop trader, and as a contributor/content creator for news portals and educational platforms. View All Post By Olimpiu Tuns Majors share Read Next Ethereum Price Prediction: ETH UP 5% After Ethereum Hard Fork Launch Nancy Lubale 1 year USD/CHF could resume its growth after ignoring the immediate resistance levels. The greenback is strongly bullish after the US data came in better than expected earlier. DXY’s further growth should help USD/CHF to resume its growth and to approach new highs. USD/CHF price rallied and now is traded at 0.9108 below 0.9110 today’s high. The Dollar Index has resumed its growth. That’s why the dollar has appreciated. We have a strong positive correlation between DXY and USD/CHF. So, if the index increases, the currency pair is expected to increase as well. –Are you interested to learn more about automated forex trading?… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.