Technical Overview of USD/CNH, USD/CHF and USD/CAD Currency Pair

 USD CNH

 

USD traded higher against CNH and closed at 6.8679.

G20 Summit is over now, it’s expected that the weakness of the USD may continue.

On the other hand we may see strength in the safe heaven and CNH.

President Donald Trump wants a weaker dollar to help boost exports, and is counting on the Federal Reserve to help make that happen. But the central bank’s chairman, Jerome Powell, has made clear it’s not his job.

 

According to the Analysis, pair is expected to find support at 6.85980 and a fall through could take it to the next support level of 6.85170. The pair is expected to find its first resistance at 6.87757, and a rise through could take it to the next resistance level of 6.88724.

 

USD CHF

 

USD traded higher against CHF and closed at 0.9764.

According to the Analysis, pair is expected to find support at 0.97432, and a fall through could take it to the next support level of 0.97225. The pair is expected to find its first resistance at 0.97793, and a rise through could take it to the next resistance level of 0.97947.

 

USD CAD

 

USD traded higher against CAD and closed at 1.3099.

According to the Analysis, pair is expected to find support at 1.30715, and a fall through could take it to the next support level of 1.30440. The pair is expected to find its first resistance at 1.31142, and a rise through could take it to the next resistance level of 1.31294.

 

Major Economic Events of the Day

The Caixin China Manufacturing PMI, released by Market, is based on data compiled from monthly replies to questionnaires sent to purchasing executives in over 400 private manufacturing sector companies.

The Institute for Supply Management (ISM) Manufacturing Index shows business conditions in the US manufacturing sector It is a significant indicator of the overall economic condition in US. A result above 50 is seen as positive (or bullish) for the USD, whereas a result below 50 is seen as negative (or bearish).

 

For Detailed analysis visit XtreamForex YouTube Channel.

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