USDCHF on Wednesday rose 0.36% to 0.90447. What we know.

USDCHF Analysis

Performance after Wednesday
Period	Pct	Chg	Momentum
Wednesday	0.36%	32.5 Pips
Week to-date	0.62%	55.3 Pips
May	1.21%	108.2 Pips

Upcoming key events (London Time)

Thu 01:30 PM USD GDP Annualized
Fri 01:30 PM USD Durable Goods Orders
Fri 01:30 PM USD Nondefense Capital Goods Orders excluding Aircraft

What happened lately

🇺🇸 New Residential Sales (1-mth) in April exceed forecast and rose to 0.683M compared to previous figure 0.656, revised from 0.683M in March Census Bureau

What can we expect from USDCHF today?

USDCHF on Wednesday rose 0.36% to 0.90447. Price is above 9-Day EMA while Stochastic is rising.

Updated daily direction for USDCHF looks bullish as the pair ended higher after Wednesday trading session.

Looking ahead for the day, immediate upside resistance level is R1 at 0.90731 with break above could target R2 at 0.91016 or figure level area. While towards the downside, we are looking at daily low of 0.90040 as an important support. Break below this level could weaken the current bullish momentum. A break above 0.90670 may suggest continuation after recent positive movement.

For the week to-date, take note that USDCHF is mixed as compared to the prior week.

Key levels to watch out:

You might be interested in:

Minutes of the Federal Open Market Committee, May 2-3, 2023. Federal Reserve
New Home Sales. Census Bureau
Gross Domestic Product for the U.S. Virgin Islands, 2021. Bureau of Economic Analysis

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