USDCHF on Wednesday dropped 0% to 0.87857. Pair in consolidation. What we know.

USDCHF Analysis

Performance after Wednesday
Period	Pct	Chg	Momentum
Wednesday	0%	-0.3 Pips
Week to-date	-0.22%	-19.7 Pips
February	2%	172.3 Pips

Upcoming key events (London Time)

Thu 08:00 AM CHF GDP (seasonally adjusted) (3-mth)
Thu 01:30 PM USD Personal Consumption Expenditures Price Index (12-mth)
Thu 01:30 PM USD Personal Consumption Expenditures Price Index (1-mth)

What happened lately

🇺🇸 U.S. Core Personal Consumption Expenditures (3-mth) in Q4 flash estimate rose to 2.1% compared to previous figure 2% in Q3 Source: Bureau of Economic Analysis
🇺🇸 U.S. GDP Annualized in Q4 flash estimate dropped to 3.2% compared to previous figure 3.3% in Q3 Source: Bureau of Economic Analysis
🇺🇸 U.S. Housing Price Index (1-mth) in December dropped to 0.1% compared to previous figure 0.4, revised from 0.3% in November
🇺🇸 U.S. Durable Goods Orders in January dropped to -6.1% compared to previous figure -0.3, revised from 0% in December Source: Census Bureau

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What can we expect from USDCHF today?

USDCHF on Wednesday dropped 0% to 0.87857. Price is below 9-Day EMA while Stochastic is falling.

Updated daily direction for USDCHF looks mixed as the pair is likely to consolidate above 0.87716 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.88156 or trades above daily pivot 0.87936. Break above could target R1 at 0.88077. While to the downside, we are looking at 0.87716 (S1) and daily low of 0.87795 as support levels. USDCHF need to break on either side to indicate a short-term bias. A close below 0.87795 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: