The USD/CHF has increased today and has resumed the Friday’s bullish candle, right now is pressuring an important static resistance. Could increase further if will have enough energy to stay much above the 1.0000 psychological level.

Technically should increase because is located above some important support levels, we could have some volatility on this pair tomorrow as the United States will publish some high impact data, the dollar will appreciate further if the numbers will come in line with expectations or better. The USDX needs a bullish spark from the US data to be able to jump above the 101.78 previous high.

The USD has increased in the last hours, even if the United States have come in mixed today, the Core Durable Goods Orders fallen by 0.2% in January, even if the economists have predicted a 0.5% increase, the economic indicator has fallen after the 0.9% growth in December. The Pending Home Sales dropped by 2.8% in January, has disappointed as the traders have expected to see a 1.1% growth, the greenback has received support only from the Durable Goods Orders, which has increased by 1.8%, beating the 1.6% estimate, the indicator has increased sharply after the 0.5% drop in the previous reading period.

The rate is challenging the 1.0091 static resistance, could resume this momentum if the USDX will climb much higher, is somehow expected to increase after the false breakout below the median line (ml) of the minor descending pitchfork, the rate has closed much above the median line (ml) and above the lower median line (LML) of the major ascending pitchfork.

Personally, I would have liked the price to come down to test the major confluence area formed at the intersection between the lower median line (LML) with the median line (ml), it was a great bullish signal, but has failed to reach this level, signalling that the rate could increase.

The next upside target is at the upper median line (uml) of the minor descending pitchfork, will approach and reach this level only if will take out the resistance from the 1.0091 level.