USDCHF on Thursday rose 0.01% to 0.89390. Pair in consolidation. What we know.

USDCHF Analysis

Performance after Thursday
Period	Pct	Chg	Momentum
Thursday	0.01%	0.5 Pips
Week to-date	-0.82%	-74.2 Pips
June	-1.04%	-94.2 Pips

Upcoming key events (London Time)

Fri 03:00 PM USD Michigan Index of Consumer Sentiment

What happened lately

🇺🇸 U.S. Producer Price Index ex Food & Energy (1-mth) in May dropped to 0% compared to previous figure 0.5% in April
🇺🇸 U.S. Interest Rate Projections – 2nd year unchanged at 3.1% compared to previous rate 3.1%
🇺🇸 U.S. Interest Rate Projections rose to 5.1% compared to previous rate 4.6%
🇺🇸 U.S. Fed Interest Rate Decision (Federal Funds Rate) unchanged at 5.5% compared to previous rate 5.5% Source: Federal Reserve
🇺🇸 U.S. Interest Rate Projections – 1st year below forecast and rose to 4.1% compared to previous rate 3.9%
🇺🇸 U.S. Interest Rate Projections – Longer rose to 2.8% compared to previous rate 2.6%
🇺🇸 U.S. Monthly Budget Statement in May dropped to -347$ compared to previous figure 209.5$ in April Source: Bureau of the Fiscal Service
🇺🇸 U.S. CPI Inflation Rate (1-mth) in May dropped to 0% compared to previous figure 0.3% in April Source: Bureau of Labor Statistics
🇺🇸 U.S. CPI Inflation Rate (12-mth) in May dropped to 3.3% compared to previous figure 3.4% in April Source: Bureau of Labor Statistics

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What can we expect from USDCHF today?

USDCHF on Thursday rose 0.01% to 0.89390. 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 0.89227 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.89672 or trades above daily pivot 0.8945. Break above could target R1 at 0.89612. While to the downside, we are looking at 0.89227 (S1) and daily low of 0.89287 as support levels. USDCHF need to break on either side to indicate a short-term bias. A break above 0.89672 may suggest continuation after recent positive movement.

For the week to-date, take note that USDCHF is bearish as the pair posted lower by -0.82%.

Key levels to watch out: