USDCHF Analysis
| Performance after Thursday | |||||
| Period | Pct | Chg | Momentum | ||
| Thursday | 0.54% | 49 Pips |  |
||
| Week to-date | 1.1% | 99.5 Pips | |
||
| January | 0.95% | 85.5 Pips |  |
||
Upcoming key events (London Time)
No major events for the day.
What happened lately
In the week ending December 28, the U.S. Initial Unemployment Insurance Claims fell to 211,000 from the previous figure of 220,000. This revision signifies an improvement in the employment sector, suggesting that fewer individuals are filing for unemployment benefits, indicating a potentially strengthening job market. The data, sourced from the Department of Labor, signals robust economic health in the United States and can positively influence economic sentiment and confidence.
The USDCHF (U.S. Dollar/Swiss Franc) currency pair rose by 0.54% to reach a level of 0.91179 on Thursday. This appreciation of the dollar against the Swiss franc could be interpreted as a reaction to the positive unemployment claims report. In forex markets, a stronger-than-expected jobs report can bolster the U.S. dollar because it suggests a resilient economy, potentially leading to expectations of stable or rising interest rates from the Federal Reserve. This interest in holding U.S. dollars could amplify USD exchange rates against other currencies, including the Swiss franc. Conversely, with no major events affecting the franc, the focus remains on U.S. economic performance as the driving force for the USDCHF movement, which, in this instance, favored a stronger dollar vis-à-vis the franc.
Latest from X (Twitter)
What can we expect from USDCHF today?
USDCHF on Thursday rose 0.54% to 0.91179. Price is above 9-Day EMA while Stochastic is rising.
Updated daily direction for USDCHF looks bullish as the pair ended higher after Thursday trading session.
Looking ahead for the day, immediate upside resistance level is R1 at 0.91571 with break above could target R2 at 0.91963 or figure level area. While towards the downside, we are looking at daily low of 0.90387 as an important support. Break below this level could weaken the current bullish momentum. A break above 0.91371 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 1.1% over the past few days.
Key levels to watch out:
| R3 | 0.92555 |
| R2 | 0.91963 |
| R1 | 0.91571 |
| Daily Pivot | 0.90979 |
| S1 | 0.90587 |
| S2 | 0.89995 |
| S3 | 0.89603 |
#USDCHF Trending on Twitter
[custom-twitter-feeds hashtag=”#USDCHF” num=3 showheader=false]