USDCHF Analysis
| Performance after Monday | |||||
| Period | Pct | Chg | Momentum | ||
| Monday | 0.21% | 18.9 Pips |  |
||
| Week to-date | 0.25% | 22.5 Pips |  |
||
| December | 2.42% | 213.5 Pips | |
||
Upcoming key events (London Time)
No major events for the day.
What happened lately
In the United States, November saw an increase in Pending Home Sales by 2.2%, a rise from the earlier revised figure of 1.8% in October, which was initially reported at 2%. This indicates a stronger-than-expected performance in the housing sector, suggesting a potential rebound in consumer confidence and spending in the housing market as reported by Financial Times. However, contrasting this positive news, the Chicago Purchasing Managers’ Index for December showed a decline to 36.9 points from 40.2 points in November. This drop signifies weakening manufacturing activity, reflecting potential challenges within the sector that may influence broader economic conditions.
With no major events scheduled for the day and the recent data reflecting a mixed economic outlook in the United States, the USDCHF currency pair experienced a minor rise, increasing by 0.21% to 0.90369 on Monday. The improvement in pending home sales might have contributed to a positive sentiment towards the U.S. dollar, yet concerns about manufacturing weakness could potentially limit further strength. Consequently, investors might remain cautious, evaluating future economic indicators to gauge a clearer direction for USDCHF in the short term.
Latest from X (Twitter)
What can we expect from USDCHF today?
USDCHF on Monday rose 0.21% to 0.90369. Price is above 9-Day EMA while Stochastic is rising.
Updated daily direction for USDCHF looks bullish as the pair ended higher after Monday trading session.
Looking ahead for the day, immediate upside resistance level is R1 at 0.90707 with break above could target R2 at 0.91045 or figure level area. While towards the downside, we are looking at daily low of 0.90097 as an important support. Break below this level could weaken the current bullish momentum. A break above 0.90740 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 | 0.9135 |
| R2 | 0.91045 |
| R1 | 0.90707 |
| Daily Pivot | 0.90402 |
| S1 | 0.90064 |
| S2 | 0.89759 |
| S3 | 0.89421 |
#USDCHF Trending on Twitter
[custom-twitter-feeds hashtag=”#USDCHF” num=3 showheader=false]