The currency pair rallied and resumed the yesterday’s bullish candle. Price continues to move in range on the short term, but a further USDX’s increase will force it to climb much higher on the short term. Technically, it is expected to climb towards fresh new high on the short term.

Price increased further as the USDX has managed to extend the latest gains as well. The dollar index has managed to jump much above the 93.30 yesterday’s high

USDX retreated a little in the last hours because has touched a strong dynamic resistance. Resistance can be found at the 93.81 level as well.

The CHF drops further even if the Switzerland data have come in better compared to the previous reading period. The UBS Consumption Indicator increased from 1.46 to 1.53 level, while the Credit Suisse Economic Expectations jumped from 25.0 to 28.0 points.

The USD could receive a helping hand from the United States data later, but only if the figures will come in line with expectations, or better. The US Durable Goods Orders could increase by 0.2%, less versus the 0.6% in the former reading period, while the Durable Goods Orders could increase by 0.1% versus the 6.8% massive drop in the previous reporting period. The Pending Home Sales are expected to stay in the negative territory for the second month in August.

Price edges higher again and is almost to reach the upper median line of the minor ascending pitchfork. Actually, is expected to approach and reach the confluence area formed at the intersection between the upper median line (uml) with the upper median line (uml) of the descending pitchfork.

A valid breakout through the mentioned confluence area will accelerate the current bullish momentum, while a rejection will send the rate tumbling towards the median line (ml) of the minor ascending pitchfork.

Technically is somehow expected to jump much higher as the behavior changed on the short term after the false breakdown below the 0.9440 static support.