USDCHF Analysis
| Performance after Thursday | |||||
| Period | Pct | Chg | Momentum | ||
| Thursday | -0.5% | -45.8 Pips |  |
||
| Week to-date | 0.13% | 11.7 Pips |  |
||
| June | -0.51% | -46.1 Pips | |
||
Upcoming key events (London Time)
Fri 01:30 PM USD Nonfarm Payroll Employment
What happened lately
🇺🇸 In the week ending 27 May, the Initial Unemployment Insurance Claims rose to 232K compared to previous figure 229K Department of Labor 🇺🇸 Nonfarm Business Labor Productivity in Q1 below forecast and improved to -2.1% compared to previous figure -2.7% in Q4 Bureau of Labor Statistics
🇨🇭 Switzerland Real Retail Trade (12-mth) in April exceed forecast and dropped to -3.7% compared to previous figure -1.9% in March Federal Statistical Office
What can we expect from USDCHF today?
USDCHF on Thursday dropped -0.5% to 0.90566. Price is above 9-Day EMA while Stochastic is falling in overbought zone.
Updated daily direction for USDCHF looks mixed as the pair is likely to consolidate above 0.90324 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.91139 or trades above daily pivot 0.90732. Break above could target R1 at 0.90973. While to the downside, we are looking at 0.90324 (S1) and daily low of 0.90490 as support levels. USDCHF need to break on either side to indicate a short-term bias. A close below 0.90490 would indicate selling pressure.
For the week to-date, take note that USDCHF is mixed as compared to the prior week.
Key levels to watch out:
| R3 | 0.91622 |
| R2 | 0.91381 |
| R1 | 0.90973 |
| Daily Pivot | 0.90732 |
| S1 | 0.90324 |
| S2 | 0.90083 |
| S3 | 0.89675 |
You might be interested in:
Swiss retail trade turnover fell by 1.3% in April 2023. Federal Statistical Office
Minutes of the Board’s discount rate meetings from April 10 through May 3, 2023. Federal Reserve Gross domestic product in the first quarter of 2023: Swiss economy grows. State Secretariat for Economic Affairs
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