USDCHF Analysis
| Performance after Thursday | |||||
| Period | Pct | Chg | Momentum | ||
| Thursday | -1.07% | -97.7 Pips |  |
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| Week to-date | -1.18% | -108.2 Pips | |
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| May | -1.7% | -156.1 Pips |  |
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Upcoming key events (London Time)
Fri 01:30 PM USD Personal Consumption Expenditures Price Index (1-mth) Fri 01:30 PM USD Personal Consumption Expenditures Price Index (12-mth)
What happened lately
🇺🇸 U.S. GDP Annualized in Q1 flash estimate dropped to 1.3% compared to previous figure 1.6% in Q4 Source: Bureau of Economic Analysis 🇺🇸 In the week ending 25 May, U.S. Initial Unemployment Insurance Claims rose to 219K compared to previous figure 216K (revised from 215K) Source: Department of Labor
🇨🇭 Switzerland GDP (seasonally adjusted) (3-mth) in Q1 rose to 0.5% compared to previous figure 0.3% in Q4 Source: State Secretariat for Economic Affairs 🇨🇭 Switzerland ZEW Survey – Expectations in May rose to 18.2 points compared to previous figure 17.6 points in April Source: ZEW
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What can we expect from USDCHF today?
USDCHF on Thursday dropped -1.07% to 0.90316. Price is below 9-Day EMA while Stochastic is falling.
Updated daily direction for USDCHF looks bearish as the pair posted lower in Thursday trading session.
Looking ahead for the day, immediate support level is at S1 0.89897 with break below could see further selling pressure towards S2 at 0.89477. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.91410 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.90234 would indicate selling pressure.
For the week to-date, take note that USDCHF is bearish as the pair posted lower by -1.18%.
Key levels to watch out:
| R3 | 0.92249 |
| R2 | 0.91829 |
| R1 | 0.91073 |
| Daily Pivot | 0.90653 |
| S1 | 0.89897 |
| S2 | 0.89477 |
| S3 | 0.88721 |
