USDCHF is trading higher for seventh consecutive session in a row, having hit the daily high at 0.9928 which is also a fresh monthly high. Switzerland Consumer Price Index (year over year) came in at 0.3% topping expectations of 0.2% in August. Switzerland Consumer Price Index (month over month) came in at 0%, also beating forecasts of -0.1% in August.
USDCHF registered an impressive rally since August 23rd, which accelerated after the pair crossed the 50 day moving average. On the upside first resistance stands at 0.9940 the 100 day moving average, a break above will drive prices up to 1.00 mark. On the downside, immediate resistance stands at 0.9896 daily low, while more bids will emerge at 0.9832 the 50 day moving average. The RSI is at 60 and still has room to run.Don’t miss a beat! Follow us on Telegram and Twitter.