USD/CAD and USD/CHF on October 15, 2020

Have a look on how did the United States Dollar performs!

USD/CAD

USD/CAD we go up again. After the good economic news yesterday, it could be expected that the dollar would start to recover slowly, it took some time for it to consolidate and move up again. All this was also reflected in the currency pair USD / CAD. The pair started from the point 1.31000, the real above the first resistance is about 1.32300, and after about 1.33100.
The good news that Trump is recovering well from the corona virus is also pushing USD/CAD up.
Globally corona cases are rising. But the dollar in both CHF and JPY is a safe haven for investors. On the other hand, may lead to a drop in oil demand due to very possible new measures against corona virus control.
USD/CAD traders today will focus on employment data from the US and Canada. In Canada, a report on ADP employment changes is expected to show that private companies cut about 50,000 jobs in September.
Looking at the position on the chart, the place is good for buy, the risk is not big and it is possible to make a double bottom on the daily chart. When we set fibo levels our first target is fibo level 23.6% 1.33865 and the first serious resistance is around 1.34000.

USD/CHF

USD/CHF is moving up from the bottom. Following the chart of the last 6 months, the dollar was at the very bottom against the CHF, the price was hovering just above 0.90000. In case the bulls can break the resistance level to $ 0.92. The price will target the resistance level at $ 0.93 and $ 0.94. Weak strength of the bulls can prevent the collapse at the level of 0.92 dollars. That can lead to a reversal of prices towards the level of support of 0.90 dollars again. Bear’s momentum becomes weak at the level of support of 0.90 dollars and that is why it is consolidating. The bulls are preparing to take over the USDCHF market.
Trump is recovering well. That gives the dollar a good momentum to go up again and show who’s boss while the CHF is by default strong in these tough times.
Today we have news from America about Initial Jobless Claims measures the number of individuals who filed for unemployment insurance for the first time during the past week. If the report is good, it can push the dollar harder and move it from the bottom.