USDCHF Analysis
| Performance | |||||
| Period | Pct | Chg | Momentum | ||
| Friday | 0.21% | 18.6 Pips |  |
||
| Week 2023-06-23 | 0.3% | 27.2 Pips | |
||
| June | -1.52% | -138.3 Pips |  |
||
Upcoming key events for the new week (London Time)
Tue 01:30 PM USD Durable Goods Orders Tue 01:30 PM USD Nondefense Capital Goods Orders excluding Aircraft Wed 09:30 PM USD Bank Stress Test Info 
Thu 01:30 PM USD Initial Unemployment Insurance Claims Thu 01:30 PM USD GDP Annualized (12-mth)
What happened over the week
🇺🇸 U.S. Chicago Fed National Activity Index in May below forecast and dropped to -0.15 points compared to previous figure 0.07 points in April 
🇨🇭 Switzerland SNB Interest Rate Decision (Policy Rate) rose to 1.75% compared to previous rate 1.5% Source: Swiss National Bank 🇺🇸 U.S. Building Permits (1-mth) in May exceed forecast and rose to 1.491M compared to previous figure 1.417, revised from 1.416M in April Source: Census Bureau
What can we expect from USDCHF for the new week and what happened on Friday?
USDCHF on Friday rose 0.21% to 0.89641. Price is below 9-Day EMA while Stochastic is falling. For the week ending 2023-06-23, the pair rose 0.3% or 27.2 pips higher.
Looking ahead on Monday, USDCHF looks mixed as the pair is likely to consolidate above week low of 0.89059.
For the new week, our technical outlook is mixed. To see upside interest, we prefer to look at price breakout of week high of 0.90133 or at least consolidates above Weekly Pivot level of 0.89611. On the downside, we are looking at week low 0.89059 or 0.89089 (WS1) as immediate support level. USDCHF need to break on either side to indicate a short-term bias. A break above 0.90133 would suggest bullish bias after recent positive movement.
For the month of June, USDCHF is down by -1.52% or -138.3 pips lower.
Weekly key levels to watch out:
| R3 | 0.91237 |
| R2 | 0.90685 |
| R1 | 0.90163 |
| Weekly Pivot | 0.89611 |
| S1 | 0.89089 |
| S2 | 0.88537 |
| S3 | 0.88015 |
You might also be interested in:
U.S. International Transactions, 1st Quarter 2023 and Annual Update Source: Bureau of Economic Analysis
2023-06-22 – Monetary policy assessment of 22 June 2023 Source: SNB Construction prices rose by 1.0% in April 2023 Source: Federal Statistical Office Powell, Semiannual Monetary Policy Report to the Congress Source: Federal Reserve Business Formation Statistics Source: Census Bureau New Residential Construction Source: Census Bureau
#USDCHF trending on Twitter
[custom-twitter-feeds hashtag=”#USDCHF” num=3 showheader=false]
Important Notice: We do not endorsed nor verified the posts provided by Twitter widget.
