The USD/CHF continues to trade in an extended sideways movement on the short term, but I hope that we’ll have a clear direction very son because the rate has become narrow, the US dollar is struggling to lead the rate higher in the coming period, but is still waiting for a bullish spark, the USDX is fighting hard to take out the 95.57 resistance level, the index has jumped above this level, but has slipped again below this obstacle , however a breakout above this static resistance, followed by a consolidation will force the USD to increase versus all its rivals.

The USDX has jumped above the yesterday’s high, but remains to see if will have  enough energy to resume the minor rebound.

The Swiss Franc has ignored the UBS Consumption Indicator, which has increased from 1.45 to 1.53, has reached the March 2016 high, the currency pair has increased even if the United States data have come in mixed, the rate has resumed the yesterday’s bullish candle, is somehow expected to increase in the coming period because has failed to make new lows in the last days.

The price has increased and now is approaching again the sliding parallel line (descending dotted line), remains to see what will happen when the rate will hit this dynamic resistance, could increase further because has failed to reach again the 0.9634 static support, has also failed to reach the previous low from 0.9648 level, will approach the fourth warning line (wl4) of the major descending pitchfork if the US dollar index will jump much higher in the coming days.

The price is trading in range between the 0.9498 level and the 0.9955 level, right now is located between the 0.9634 and the 0.9796 levels, most likely will have a clear direction when the rate will escape from this minor range. The United States economic data could bring high action in the currency market tomorrow, the calendar is filled with high impact economic figures, we’ll see how the rate will react after the US data will be sent to the public.