USDCHF on Tuesday rose 0.09% to 0.89688. Pair in consolidation. What we know.

USDCHF Analysis

Performance after Tuesday
Period	Pct	Chg	Momentum
Tuesday	0.09%	8 Pips
Week to-date	0.24%	21.1 Pips
July	0.23%	20.9 Pips

Upcoming key events (London Time)

Wed 07:00 PM USD FOMC Meeting Minutes
Thu 01:15 PM USD ADP Non-Farm Employment Change
Thu 03:00 PM USD ISM Services PMI

What happened lately

🇨🇭 Switzerland CPI Inflation Rate (1-mth) in June below forecast and dropped to 0.1% compared to previous figure 0.3% in May
🇨🇭 Switzerland CPI Inflation Rate (12-mth) in June below forecast and dropped to 1.7% compared to previous figure 2.2% in May

What can we expect from USDCHF today?

USDCHF on Tuesday rose 0.09% to 0.89688. Price is above 9-Day EMA while Stochastic is rising.

Updated daily direction for USDCHF looks mixed as the pair is likely to consolidate above 0.8951 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.89751 or trades above daily pivot 0.89631. Break above could target R1 at 0.89808. While to the downside, we are looking at 0.8951 (S1) and daily low of 0.89453 as support levels. USDCHF need to break on either side to indicate a short-term bias. A break above 0.89751 may suggest continuation after recent positive movement.

For the week to-date, take note that USDCHF is mixed as compared to the prior week.

Key levels to watch out:

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Swiss Consumer Price Index in June 2023 – Consumer prices increased by 0.1% in June. Federal Statistical Office