USDCHF Analysis
| Performance after Thursday | |||||
| Period | Pct | Chg | Momentum | ||
| Thursday | 0.06% | 5 Pips |  |
||
| Week to-date | -0.08% | -7.3 Pips |  |
||
| November | -2.81% | -255.8 Pips |  |
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Upcoming key events (London Time)
No major events for the day.
What happened lately
🇺🇸 U.S. Michigan Index of Consumer Sentiment in November exceed forecast and rose to 61.3 points compared to previous figure 60.4 points in October University of Michigan 🇺🇸 U.S. UoM 5-year Consumer Inflation Expectation in November unchanged at 3.2% compared to previous report in October. The actual figure is also in line with the forecast University of Michigan 🇺🇸 U.S. Durable Goods Orders in October exceed forecast and dropped to -5.4% compared to previous figure 4.6, revised from 4.7% in September Census Bureau
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What can we expect from USDCHF today?
USDCHF on Thursday rose 0.06% to 0.88429. Price is below 9-Day EMA while Stochastic is rising in oversold zone.
Updated daily direction for USDCHF looks mixed as the pair is likely to consolidate above 0.88233 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.88494 or trades above daily pivot 0.88363. Break above could target R1 at 0.8856. While to the downside, we are looking at 0.88233 (S1) and daily low of 0.88167 as support levels. USDCHF need to break on either side to indicate a short-term bias. A break above 0.88494 may suggest continuation after recent positive movement.
For the week to-date, take note that USDCHF is bearish as the pair posted lower by -0.08%.
Key levels to watch out:
| R3 | 0.88887 |
| R2 | 0.8869 |
| R1 | 0.8856 |
| Daily Pivot | 0.88363 |
| S1 | 0.88233 |
| S2 | 0.88036 |
| S3 | 0.87906 |
You might be interested in:
Advance Monthly Manufacturers’ Shipments, Inventories, and Orders. Census Bureau Minutes of the Federal Open Market Committee, October 31-November 1, 2023. Federal Reserve
