USDCHF on Wednesday dropped -0.01% to 0.9409. Pair in consolidation. What happened.

USDCHF by TradingView

Performance after Wednesday
Period	Pct	Chg	Momentum
Wednesday	-0.01%	-1.1 Pips
Week to-date	0.54%	50.7 Pips
March	-0.15%	-14.4 Pips

Upcoming key events (London Time)

Fri 01:30 PM USD Nonfarm Payroll Employment
Fri 03:00 PM USD Michigan Index of Consumer Sentiment

What happened lately

📆 🇺🇸 USD Goods and Services Trade Balance in January below forecast and dropped to -68.3$ compared to previous figure -67.2, revised from -67.4$ in December. Source
📆 🇺🇸 USD Factory Orders (1-mth) in January below forecast and dropped to -1.6% compared to previous figure 1.7, revised from 1.8% in December. Source

What can we expect from USDCHF today?

USDCHF on Wednesday dropped -0.01% to 0.9409. 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 0.93831 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.9439 or trades above daily pivot 0.94109 while to the downside, the daily low of 0.9385 and 0.93831 (S1) as key support levels. USDCHF need to break on either side to indicate a short-term bias. A close below 0.9385 would indicate selling pressure.

For the week to-date, take note that USDCHF is mixed as the current price action remain uncertain due to trader indecisiveness.

Key levels to watch out: