USDCHF Analysis
| Performance after Monday | |||||
| Period | Pct | Chg | Momentum | ||
| Monday | -0.07% | -6.5 Pips |  |
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| Week to-date | -0.06% | -5.3 Pips | |
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| January | 1.42% | 128.4 Pips |  |
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Upcoming key events (London Time)
Tue 01:30 PM USD PPI excluding Food and Energy sectors (12-mth) Wed 01:30 PM USD CPI Inflation Rate (12-mth)
What happened lately
There are no major economic developments reported at this time for the United States. However, upcoming significant economic indicators that might impact the currency market include the Producer Price Index (PPI), excluding the food and energy sectors, which is scheduled to be released on Tuesday at 01:30 PM. This index will provide insights into the inflationary pressures at the wholesale level, excluding volatile food and energy prices. Additionally, on Wednesday, the Consumer Price Index (CPI) for the United States will be released at 01:30 PM. The CPI will give an understanding of inflation trends at the consumer level over the past year, providing a crucial perspective on inflation dynamics within the economy.
The USDCHF currency pair experienced a slight decline on Monday, dropping by -0.07% to 0.91608. This movement indicates that the pair is currently in a consolidation phase, suggesting a pause in trends, either upward or downward, as traders assess the upcoming data releases. The release of high-impact economic indicators such as the PPI and CPI can significantly influence the pair as they provide insights into the health and direction of the U.S. economy. These indicators may affect the expectations for monetary policy actions by the Federal Reserve, which in turn could lead to changes in the value of the USD versus the CHF. Hence, investors and traders in the currency market will closely monitor these releases for indications of potential inflationary pressure and economic momentum in the United States. This context could pivot decisions on whether to support further bullish or bearish sentiment on the USD against the CHF.
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What can we expect from USDCHF today?
USDCHF on Monday dropped -0.07% to 0.91608. 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 0.91428 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.92011 or trades above daily pivot 0.9172. Break above could target R1 at 0.91899. While to the downside, we are looking at 0.91428 (S1) and daily low of 0.91540 as support levels. USDCHF need to break on either side to indicate a short-term bias. A close below 0.91540 would indicate selling pressure.
For the week to-date, take note that USDCHF is mixed as compared to the prior week.
Key levels to watch out:
| R3 | 0.9237 |
| R2 | 0.92191 |
| R1 | 0.91899 |
| Daily Pivot | 0.9172 |
| S1 | 0.91428 |
| S2 | 0.91249 |
| S3 | 0.90957 |
#USDCHF Trending on Twitter
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