USDCHF on Thursday dropped -0.11% to 0.91640. Pair in consolidation. What we know.

USDCHF on Thursday dropped -0.11% to 0.91640. Pair in consolidation. What we know.

USDCHF Analysis

Performance after Thursday
Period Pct Chg Momentum
Thursday -0.11% -10.2 Pips
Week to-date -0.93% -86 Pips
March -2.66% -251 Pips

Upcoming key events (London Time)

Fri 12:30 PM USD Durable Goods Orders
Fri 12:30 PM USD Nondefense Capital Goods excluding Aircraft

What happened lately

๐Ÿ“† ๐Ÿ‡บ๐Ÿ‡ธ USD Chicago Fed National Activity Index in February below forecast and dropped to -0.19 points compared to previous figure 0.23 points in January. Source
๐Ÿ“† โ˜ข๏ธ ๐Ÿ‡จ๐Ÿ‡ญ CHF SNB Interest Rate Decision (Policy Rate) rose to 1.5% compared to previous rate 1%. Source
๐Ÿ“† โ˜ข๏ธ ๐Ÿ‡บ๐Ÿ‡ธ USD Fed Interest Rate Decision (Federal Funds Rate) rose to 5% compared to previous rate 4.75%. Source

USDCHF Chart by TradingView

What can we expect from USDCHF today?

USDCHF on Thursday dropped -0.11% to 0.91640. Price is below 9-Day EMA while Stochastic is rising.

Updated daily direction for USDCHF looks mixed as the pair is likely to consolidate above 0.91271 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.91807 or trades above daily pivot 0.91539. While to the downside, the daily low of 0.91170 and 0.91271 (S1) as immediate support levels. USDCHF need to break on either side to indicate a short-term bias. A close below 0.91170 would indicate selling pressure.

For the week to-date, take note that USDCHF is mixed as the current price action remain uncertain due to trader indecisiveness.

Key levels to watch out:

R3 0.92545
R2 0.92176
R1 0.91908
Daily Pivot 0.91539
S1 0.91271
S2 0.90902
S3 0.90634

You might be interested in:

U.S. International Transactions, 4th Quarter and Year 2022 Source: Bureau of Economic Analysis
2023-03-23 – Monetary policy assessment of 23 March 2023 Source: SNB
Index Suggests Economic Growth Declined in February Source: Chicago Fed
Federal Reserve Board and Federal Open Market Committee release economic projections from the March 21-22 FOMC meeting Source: Federal Reserve
Federal Reserve issues FOMC statement Source: Federal Reserve

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