Technical Analysis
USDCHF have big potential to buy around 0.88839 . This particular area have big resistance or rejection from the previous level higher time frame, it means lots of buyers took profit and sellers decided to involve in. Based on volume indicator the momentum for buyers is weakening.
Fundamental Analysis
The producer price index, a gauge of prices that producers get for their goods and services in the open market, declined 0.2% for the month, the Labor Department’s Bureau of Labor Statistics reported Thursday. That reversed a 0.5% increase in April and compared with the Dow Jones estimate for a 0.1% rise.
Excluding food, energy and trade services, the PPI was unchanged, compared with expectations for a 0.3% increase.
On an annual basis, the all-items PPI rose 2.2%.
DISCLAIMER:The information on this analysis is based on research and experience, and it is not guaranteed to be accurate