USDCHF analysis for 04.10.2017

Switzerland is not publishing any economic data but the US is releasing ISM Non-Manufacturing PMI and ADP Employment Change. The support rests at 0.97080 with resistance at 0.97710 which both lines are above the weekly pivot point at 0.96950. The EMA of 10 is moving with bullish bias along the ascendant channel and it is located above the EMA of 200 and the EMA of 100. The RSI is moving on the 50 level, the MACD indicator is in positive territory and the Stochastic is showing upward momentum. The ADX is not showing any clear signals. The price is above the Ichimoku Cloud and the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a horizontal trend. The support level breakthrough will drag the price down to 0.9685 otherwise it will continue its bullish trend. https://fxglory.com/usdchf-analysis-for-04-10-2017/