USDCHF Analysis
| Performance | |||||
| Period | Pct | Chg | Momentum | ||
| Friday | -0.04% | -4 Pips |  |
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| Week 2023-04-21 | -0.09% | -8 Pips | |
||
| April | -2.49% | -228 Pips |  |
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Upcoming key events for the new week (London Time)
Wed 01:30 PM USD Durable Goods Orders Wed 01:30 PM USD Nondefense Capital Goods Orders excluding Aircraft 
Thu 01:30 PM USD Initial Unemployment Insurance Claims Thu 01:30 PM USD GDP Annualized
Fri 09:00 AM CHF SNB’s Chairman Thomas Jordan speech
What happened over the week
In the week ending 15 April, the Initial Unemployment Insurance Claims rose to 245K compared to 240K, revised from 239K in the previous report Source: Department of Labor 🇺🇸 Philadelphia Fed Manufacturing Survey in April exceed forecast and dropped to -31.3 points compared to previous figure -23.2 points in March 🇺🇸 Building Permits (1-mth) in March below forecast and dropped to 1.413M compared to previous figure 1.55, revised from 1.524M in February Source: Census Bureau
What can we expect from USDCHF for the new week and what happened on Friday?
USDCHF on Friday dropped -0.04% to 0.89200. Price is below 9-Day EMA while Stochastic is falling. For the week ending 2023-04-21, the pair dropped -0.09% or -8 pips lower.
Looking ahead on Monday, USDCHF looks mixed as the pair is likely to consolidate above week low of 0.89070.
For the new week, our technical outlook is mixed. To see upside interest, we prefer to look at price breakout of week high of 0.90029 or at least consolidates above Weekly Pivot level of 0.89433. On the downside, we are looking at week low 0.89070 or 0.88837 (WS1) as immediate support level. USDCHF need to break on either side to indicate a short-term bias. A close below week low of 0.89070 would indicate selling pressure.
For the month of April, USDCHF is down by -2.49% or -228 pips lower.
Weekly key levels to watch out:
| R3 | 0.90755 |
| R2 | 0.90392 |
| R1 | 0.89796 |
| Weekly Pivot | 0.89433 |
| S1 | 0.88837 |
| S2 | 0.88474 |
| S3 | 0.87878 |
You might also be interested in:
Minutes of the Board’s discount rate meetings from February 21 through March 22, 2023 Source: Federal Reserve New Residential Construction Source: Census Bureau Business Formation Statistics Source: Census Bureau
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