USDCHF on Tuesday rose 0.26% to 0.91400. Pair in consolidation. Why it matters.

USDCHF on Tuesday rose 0.26% to 0.91400. Pair in consolidation. Why it matters.

Open High Low Close
0.91185 0.91670 0.90955 0.91400

Performance after Tuesday
Period Pct Chg Momentum
Tuesday 0.26% 24 Pips
Week to-date -0.92% -85 Pips
March -3.13% -295 Pips

Upcoming key events (London Time)

Wed 12:30 PM USD Retail Sales (1-mth)
Wed 12:30 PM USD Retail Control Group

What happened lately

📆 ☢️ 🇺🇸 USD CPI Inflation Rate excluding Food & Energy sectors (1-mth) in February exceed forecast and rose to 0.5% compared to previous figure 0.4% in January. Source

What can we expect from USDCHF today?

USDCHF on Tuesday rose 0.26% to 0.91400. Price is below 9-Day EMA while Stochastic is falling but in oversold zone.

Updated daily direction for USDCHF looks mixed as the pair is likely to consolidate above 0.91013 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.91670 or trades above daily pivot 0.91342. While to the downside, the daily low of 0.90955 and 0.91013 (S1) as immediate support levels. USDCHF need to break on either side to indicate a short-term bias. A break above 0.91670 would suggest bullish bias after recent positive movement.

For the week to-date, take note that USDCHF is bearish as the pair posted lower by -0.92%.

Key levels to watch out:

R3 0.92443
R2 0.92057
R1 0.91728
Daily Pivot 0.91342
S1 0.91013
S2 0.90627
S3 0.90298

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