USDCHF Analysis
| Performance after Thursday | |||||
| Period | Pct | Chg | Momentum | ||
| Thursday | 0.2% | 18.1 Pips |  |
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| Week to-date | -0.7% | -62.2 Pips |  |
||
| May | -0.94% | -84 Pips |  |
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Upcoming key events (London Time)
Fri 01:30 PM USD Nonfarm Payroll Employment
What happened lately
USD Nonfarm Business Labor Productivity in Q1 preliminary estimate dropped to -2.7% compared to previous figure 1.6% (revised from 1.7%). Bureau of Labor Statistics 🇺🇸 In the week ending 29 April, the Initial Unemployment Insurance Claims rose to 242K compared to previous figure 229K (revised from 230K) Department of Labor 🇺🇸 Goods and Services Trade Balance in March exceed forecast and improved to -64.2$ compared to previous figure -70.6, revised from -70.5$ in February 🇺🇸 Fed Interest Rate Decision (Federal Funds Rate) rose to 5.25% compared to previous rate 5% Federal Reserve
What can we expect from USDCHF today?
USDCHF on Thursday rose 0.2% to 0.88548. Price is below 9-Day EMA while Stochastic is falling.
Updated daily direction for USDCHF looks mixed as the pair is likely to consolidate above 0.88192 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.88914 or trades above daily pivot 0.88553. Break above could target R1 at 0.88909. While to the downside, we are looking at 0.88192 (S1) and daily low of 0.88197 as support levels. USDCHF need to break on either side to indicate a short-term bias. A break above 0.88914 may suggest continuation after recent positive movement.
For the week to-date, take note that USDCHF is bearish as the pair posted lower by -0.7%.
Key levels to watch out:
| R3 | 0.89626 |
| R2 | 0.8927 |
| R1 | 0.88909 |
| Daily Pivot | 0.88553 |
| S1 | 0.88192 |
| S2 | 0.87836 |
| S3 | 0.87475 |
You might be interested in:
U.S. International Trade in Goods and Services. Census Bureau Housing Vacancies and Homeownership. Census Bureau Rental Vacancy Rate. Census Bureau Federal Reserve issues FOMC statement. Federal Reserve Manufacturers’ Shipments, Inventories, and Orders. Census Bureau
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