USDCHF Analysis
Performance after Wednesday | |||||
Period | Pct | Chg | Momentum | ||
Wednesday | 0.48% | 43.8 Pips | |||
Week to-date | 0.63% | 56.8 Pips | |||
May | 1.84% | 164.6 Pips |
Upcoming key events (London Time)
Fri 01:30 PM USD Nonfarm Payroll Employment
What happened lately
๐จ๐ญ Real Retail Trade (12-mth) in April exceed forecast and dropped to -3.7% compared to previous figure -1.9% in March Federal Statistical Office
๐บ๐ธ U.S. Housing Price Index (1-mth) in March dropped to 0.6% compared to previous figure 0.7% (revised from 0.5%)
๐จ๐ญ Switzerland KOF Leading Indicator in May dropped to 90.2 points compared to previous figure 96.1 points (revised from 96.4 points). KOF Swiss Economic Institute
๐จ๐ญ Switzerland GDP (seasonally adjusted) (3-mth) in Q1 exceed forecast and rose to 0.3% compared to previous figure 0% in Q4 State Secretariat for Economic Affairs
What can we expect from USDCHF today?
USDCHF on Wednesday rose 0.48% to 0.91013. Price is above 9-Day EMA while Stochastic is falling in overbought zone.
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 0.91476 with break above could target R2 at 0.91939 or figure level area. While towards the downside, we are looking at daily low of 0.90550 as an important support. Break below this level could weaken the current bullish momentum. A break above 0.91476 may suggest continuation after recent positive movement.
For the week to-date, take note that USDCHF is bullish as the pair continued to trade higher and is up by 0.63% over the past few days.
USDCHF ended month of May trading session up by 1.84% or 164.6 pips higher.
Key levels to watch out:
R3 | 0.92402 |
R2 | 0.91939 |
R1 | 0.91476 |
Daily Pivot | 0.91013 |
S1 | 0.9055 |
S2 | 0.90087 |
S3 | 0.89624 |
You might be interested in:
Swiss retail trade turnover fell by 1.3% in April 2023. Federal Statistical Office
Minutes of the Board’s discount rate meetings from April 10 through May 3, 2023. Federal Reserve
Gross domestic product in the first quarter of 2023: Swiss economy grows. State Secretariat for Economic Affairs
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