By Orbex
USDCHF seeks support
The US dollar stalled after weekly jobless claims came in higher than expected. The pair’s attempt above the daily resistance at 0.9310 suggests that the bulls may have gained the upper hand.
Intraday buyers’ profit-taking led by the RSI’s overbought situation has caused a limited pullback. Buyers may see dips as an opportunity to get in at a discount. Bids could be around the resistance-turned-support at 0.9235.
0.9330 is a fresh resistance. And its breach may trigger an extended rally towards last April’s peak at 0.9450.
NZDUSD bounces off demand area
Free Reports:
Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
Download Our Metatrader 4 Indicators – Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter
The New Zealand dollar inches higher as traders are positioning for an RBNZ rate hike next week. From the daily chart’s perspective, the pair has bounced off the demand zone near the psychological level of 0.7000.
A bullish RSI divergence indicates a slowdown in the bearish momentum, a sign that sentiment could be turning around. An oversold RSI has attracted buying interest.
A rally above 0.7060 would prompt sellers to cover, paving the way for a recovery towards 0.7175. A break below 0.6980 may drive the kiwi to 0.6900.
US30 struggles to rally back
The Dow Jones is under pressure as investors fear that inflation could choke off economic recovery.
The index has been struggling to reclaim the landmark 36000, which coincides with the 20-day moving average. The faded rebound suggests exhaustion after a month-long breakneck rally.
The RSI’s double-dip into the oversold area has attracted buying interest. Though buyers may stay cautious unless the first resistance at 36180 is lifted. On the downside, the previous peak at 35500 has turned into the next support.
Article by Orbex
Orbex is a fully licensed broker that was established in 2011. Founded with a mission to serve its traders responsibly and provides traders with access to the world’s largest and most liquid financial markets. www.orbex.com
- The Central Bank of Mexico kept its interest rate unchanged. Iran plans to introduce strict bans for US and Israeli vessels in the Strait of Hormuz Aug 7, 2026
- USD/JPY Holds Firm: Yen Loses Some Support Aug 7, 2026
- Australian trade balance returned to positive territory Aug 6, 2026
- Results in Line for Most Reporting Companies Aug 5, 2026
- Stock indices continue to break records. Oil is falling amid intensified diplomatic dialogue between the US and Iran Aug 5, 2026
- USD/JPY Holds Steady After Intervention: Outlook Remains Uncertain Aug 5, 2026
- EUR/USD: Busy Week Ahead Aug 3, 2026
- Positive sentiment in the AI sector supported stock indices. Oil prices remain volatile Aug 3, 2026
- The Tech‑heavy NASDAQ Index jumped by more than 3.3%. The offshore yuan is trading at its highest level since 2023 Jul 31, 2026
- USD/JPY After Volatility: Multiple Events in One Day Jul 31, 2026
