USDCHF on Wednesday dropped -0.23% to 0.91667. Pair in consolidation. What we know.

USDCHF Analysis

Performance after Wednesday
Period	Pct	Chg	Momentum
Wednesday	-0.23%	-21.2 Pips
Week to-date	0.37%	33.7 Pips
May	-0.23%	-21.2 Pips

Upcoming key events (London Time)

Thu 07:30 AM CHF CPI Inflation Rate (12-mth)
Fri 01:30 PM USD Average Hourly Earnings (1-mth)
Fri 01:30 PM USD Average Hourly Earnings (12-mth)
Fri 01:30 PM USD Nonfarm Payroll Employment

What happened lately

🇺🇸 U.S. Fed Interest Rate Decision (Federal Funds Rate) unchanged at 5.5% compared to previous rate 5.5% Source: Federal Reserve
🇺🇸 U.S. Job Openings and Labor Turnover Survey (JOLTS) in March dropped to 8.488M compared to previous figure 8.813, revised from 8.756M in February Source: Bureau of Labor Statistics
🇺🇸 U.S. Housing Price Index (1-mth) in February rose to 1.2% compared to previous figure -0.1% in January

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What can we expect from USDCHF today?

USDCHF on Wednesday dropped -0.23% to 0.91667. 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 0.91333 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.92242 or trades above daily pivot 0.91787. Break above could target R1 at 0.92122. While to the downside, we are looking at 0.91333 (S1) and daily low of 0.91453 as support levels. USDCHF need to break on either side to indicate a short-term bias. A close below 0.91453 would indicate selling pressure.

For the week to-date, take note that USDCHF is bullish as the pair continued to trade higher and is up by 0.37% over the past few days.

Key levels to watch out: