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USDCHF on Wednesday rose 0.37% to 0.89655. Pair in consolidation. What we know.

USDCHF on Wednesday rose 0.37% to 0.89655. Pair in consolidation. What we know.

USDCHF Analysis

Performance after Wednesday
Period Pct Chg Momentum
Wednesday 0.37% 33.2 Pips
Week to-date 0.02% 1.4 Pips
June -1.5% -136.9 Pips

Upcoming key events (London Time)

Thu 07:30 AM USD Federal Reserve Chair Jerome Powell speech
Thu 01:30 PM USD GDP Annualized

What happened lately

๐Ÿ‡จ๐Ÿ‡ญ Switzerland ZEW Survey โ€“ Expectations in June below forecast and improved to -30.8 points compared to previous figure -32.2 points in May ZEW
๐Ÿ‡บ๐Ÿ‡ธ U.S. New Residential Sales (1-mth) in May exceed forecast and rose to 0.763M compared to previous figure 0.68, revised from 0.683M in April Census Bureau
๐Ÿ‡บ๐Ÿ‡ธ U.S. Housing Price Index (1-mth) in April exceed forecast and rose to 0.7% compared to previous figure 0.5, revised from 0.6% in March
๐Ÿ‡บ๐Ÿ‡ธ U.S. Durable Goods Orders excluding Transportation in May rose to 0.6% compared to previous figure -0.6% (revised from -0.2%) Census Bureau


USDCHF 4-hour Chart by TradingView

What can we expect from USDCHF today?

USDCHF on Wednesday rose 0.37% to 0.89655. Price is above 9-Day EMA while Stochastic is falling.

Updated daily direction for USDCHF looks mixed as the pair is likely to consolidate above 0.89358 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.89871 or trades above daily pivot 0.89615. Break above could target R1 at 0.89911. While to the downside, we are looking at 0.89358 (S1) and daily low of 0.89318 as support levels. USDCHF need to break on either side to indicate a short-term bias. A break above 0.89871 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:

R3 0.90464
R2 0.90168
R1 0.89911
Daily Pivot 0.89615
S1 0.89358
S2 0.89062
S3 0.88805

You might be interested in:

Advance Retail Inventories. Census Bureau
Advance U.S. International Trade in Goods. Census Bureau
Advance Wholesale Inventories. Census Bureau
New Home Sales. Census Bureau
Advance Monthly Manufacturers’ Shipments, Inventories, and Orders. Census Bureau

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