USDCHF Analysis
| Performance after Tuesday | |||||
| Period | Pct | Chg | Momentum | ||
| Tuesday | -0.18% | -16 Pips |  |
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| Week to-date | 0.04% | 3.6 Pips |  |
||
| March | -0.13% | -11.9 Pips | |
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Wed 03:00 PM USD Federal Reserve Chair Jerome Powell testifies
What happened lately
🇺🇸 U.S. Factory Orders (1-mth) in January dropped to -3.6% compared to previous figure -0.3, revised from 0.2% in December Source: Census Bureau
🇨🇭 Switzerland CPI Inflation Rate (1-mth) in February rose to 0.6% compared to previous figure 0.2% in January Source: Federal Statistical Office
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What can we expect from USDCHF today?
USDCHF on Tuesday dropped -0.18% to 0.88328. Price is above 9-Day EMA while Stochastic is falling.
Updated daily direction for USDCHF looks mixed as the pair is likely to consolidate above 0.88163 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.88663 or trades above daily pivot 0.88413. Break above could target R1 at 0.88578. While to the downside, we are looking at 0.88163 (S1) and daily low of 0.88248 as support levels. USDCHF need to break on either side to indicate a short-term bias. A close below 0.88248 would indicate selling pressure.
For the week to-date, take note that USDCHF is mixed as compared to the prior week.
Key levels to watch out:
| R3 | 0.88993 |
| R2 | 0.88828 |
| R1 | 0.88578 |
| Daily Pivot | 0.88413 |
| S1 | 0.88163 |
| S2 | 0.87998 |
| S3 | 0.87748 |
