USDCHF on Wednesday rose 0.33% to 0.89279. Pair in consolidation. What we know.

USDCHF Analysis

Performance after Wednesday
Period	Pct	Chg	Momentum
Wednesday	0.33%	29.4 Pips
Week to-date	-1%	-90.6 Pips
June	-1%	-90.6 Pips

Upcoming key events (London Time)

Fri 01:30 PM USD Nonfarm Payroll Employment
Fri 01:30 PM USD Average Hourly Earnings (12-mth)

What happened lately

🇺🇸 U.S. Factory Orders (1-mth) in April unchanged at 0.7% compared to previous report in March. Source: Census Bureau
🇺🇸 U.S. Job Openings and Labor Turnover Survey (JOLTS) in April dropped to 8.059M compared to previous figure 8.355, revised from 8.488M in March Source: Bureau of Labor Statistics

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What can we expect from USDCHF today?

USDCHF on Wednesday rose 0.33% to 0.89279. Price is below 9-Day EMA while Stochastic is rising in oversold zone.

Updated daily direction for USDCHF looks mixed as the pair is likely to consolidate above 0.89017 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.89488 or trades above daily pivot 0.89252. Break above could target R1 at 0.89515. While to the downside, we are looking at 0.89017 (S1) and daily low of 0.88990 as support levels. USDCHF need to break on either side to indicate a short-term bias. A break above 0.89488 may suggest continuation after recent positive movement.

For the week to-date, take note that USDCHF is bearish as the pair posted lower by -1%.

Key levels to watch out: