USDCHF Analysis
| Performance after Thursday | |||||
| Period | Pct | Chg | Momentum | ||
| Thursday | -0.12% | -10.8 Pips |  |
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| Week to-date | 0.63% | 57.4 Pips |  |
||
| May | -0.49% | -45.1 Pips | |
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Upcoming key events (London Time)
Fri 08:45 AM CHF SNB’s Chairman Thomas Jordan speech
What happened lately
🇺🇸 U.S. New-Home Sales Change (1-mth) in April dropped to -4.7% compared to previous figure 5.4, revised from 8.8% in March 🇺🇸 In the week ending 18 May, U.S. Initial Unemployment Insurance Claims dropped to 215K compared to previous figure 223K (revised from 222K) Source: Department of Labor
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What can we expect from USDCHF today?
USDCHF on Thursday dropped -0.12% to 0.91428. 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 0.91275 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.91548 or trades above daily pivot 0.91411. Break above could target R1 at 0.91565. While to the downside, we are looking at 0.91275 (S1) and daily low of 0.91258 as support levels. USDCHF need to break on either side to indicate a short-term bias. A close below 0.91258 would indicate selling pressure.
For the week to-date, take note that USDCHF is bullish as the pair continued to trade higher and is up by 0.63% over the past few days.
Key levels to watch out:
| R3 | 0.91855 |
| R2 | 0.91701 |
| R1 | 0.91565 |
| Daily Pivot | 0.91411 |
| S1 | 0.91275 |
| S2 | 0.91121 |
| S3 | 0.90985 |
