USDCHF Analysis
| Performance | |||||
| Period | Pct | Chg | Momentum | ||
| Friday | 0.44% | 39.5 Pips |  |
||
| Week 2023-06-09 | -0.65% | -59.4 Pips |  |
||
| June | -0.83% | -75.2 Pips |  |
||
Upcoming key events for the new week (London Time)
Tue 01:30 PM USD CPI Inflation Rate excluding Food & Energy sectors (1-mth) Tue 01:30 PM USD CPI Inflation Rate excluding Food & Energy sectors (12-mth) Wed 07:00 PM USD Fed Interest Rate Decision (Federal Funds Rate) Wed 07:00 PM USD FOMC Monetary Policy Statement Wed 07:00 PM USD FOMC Economic Projections Wed 07:00 PM USD Interest Rate Projections 
Thu 01:30 PM USD Initial Unemployment Insurance Claims Thu 01:30 PM USD Monthly Retail Trade (1-mth) Thu 01:30 PM USD Retail Trade Control Group Fri 03:00 PM USD Michigan Index of Consumer Sentiment
What happened over the week
🇺🇸 In the week ending 03 June, U.S. Initial Unemployment Insurance Claims rose to 261K compared to previous figure 233K (revised from 232K) Source: Department of Labor 🇺🇸 U.S. Goods and Services Trade Balance in April dropped to -74.6$ compared to previous figure -60.6$ (revised from -64.2$) 🇺🇸 Factory Orders (1-mth) in April exceed forecast and rose to 4% compared to previous figure 0.9% in March Source: Census Bureau
What can we expect from USDCHF for the new week and what happened on Friday?
USDCHF on Friday rose 0.44% to 0.90272. Price is below 9-Day EMA while Stochastic is falling. For the week ending 2023-06-09, the pair dropped -0.65% or -59.4 pips lower.
Looking ahead on Monday, USDCHF looks mixed as the pair is likely to consolidate above week low of 0.89800.
For the new week, our technical outlook is mixed. To see upside interest, we prefer to look at price breakout of week high of 0.91198 or at least consolidates above Weekly Pivot level of 0.90423. On the downside, we are looking at week low 0.89800 or 0.89649 (WS1) as immediate support level. USDCHF need to break on either side to indicate a short-term bias. A close below week low of 0.89800 would indicate selling pressure.
For the month of June, USDCHF is down by -0.83% or -75.2 pips lower.
Weekly key levels to watch out:
| R3 | 0.92445 |
| R2 | 0.91821 |
| R1 | 0.91047 |
| Weekly Pivot | 0.90423 |
| S1 | 0.89649 |
| S2 | 0.89025 |
| S3 | 0.88251 |
You might also be interested in:
Monthly Wholesale Trade: Sales and Inventories Source: Census Bureau Marine Economy Satellite Account, 2021 Source: Bureau of Economic Analysis U.S. International Trade in Goods and Services, April 2023 Source: Bureau of Economic Analysis U.S. International Trade in Goods and Services Source: Census Bureau Quarterly Financial Report Source: Census Bureau Quarterly Financial Report – Retail Source: Census Bureau Manufacturers’ Shipments, Inventories, and Orders Source: Census Bureau
Consumer prices increased by 0.3% in May Source: Federal Statistical Office
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