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USDCHF on Wednesday rose 0.48% to 0.91013. End May up by 1.84% or 164.6 pips higher. What we know.

USDCHF on Wednesday rose 0.48% to 0.91013. End May up by 1.84% or 164.6 pips higher. What we know.

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

๐Ÿ‡จ๐Ÿ‡ญ 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
๐Ÿ‡บ๐Ÿ‡ธ U.S. Housing Price Index (1-mth) in March dropped to 0.6% compared to previous figure 0.7% (revised from 0.5%)
๐Ÿ‡จ๐Ÿ‡ญ 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
๐Ÿ‡จ๐Ÿ‡ญ 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


USDCHF 4-hour Chart by TradingView

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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