USDCHF Analysis
| Performance after Monday | |||||
| Period | Pct | Chg | Momentum | ||
| Monday | -0.64% | -57.5 Pips |  |
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| Week to-date | -0.67% | -60.3 Pips |  |
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| March | -0.67% | -60.3 Pips | |
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Upcoming key events (London Time)
Wed 07:30 AM CHF Swiss CPI Inflation Rate (12-mth)
What happened lately
As of the latest information, there are no major economic news releases affecting the U.S. or Swiss markets. However, a significant upcoming event is scheduled concerning Switzerland’s economy. On Wednesday at 7:30 AM, the Swiss Consumer Price Index (CPI) Inflation Rate for a 12-month period will be released. The CPI is a crucial indicator that reflects the change in prices paid by consumers for goods and services, and it plays a significant role in monetary policy decisions. A higher inflation rate could prompt the Swiss National Bank (SNB) to adjust interest rates, which in turn could influence the Swiss franc’s value against other currencies.
The USDCHF pair recently experienced a decline of 0.64%, settling at 0.89668. This drop in the USDCHF exchange rate indicates a strengthening of the Swiss franc against the U.S. dollar. The anticipation of the upcoming Swiss CPI Inflation Rate might have led to increased trading activity and demand for the Swiss franc as investors speculate on potential economic responses by the SNB. If the inflation data reveals a rising trend, it could lead to further speculation of monetary tightening, strengthening the franc even more. Conversely, if inflation remains stable or below expectations, it might alleviate some upward pressure on the franc.
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What can we expect from USDCHF today?
USDCHF on Monday dropped -0.64% to 0.89668. Price is below 9-Day EMA while Stochastic is falling.
Updated daily direction for USDCHF looks bearish as the pair posted lower in Monday trading session.
Looking ahead for the day, immediate support level is at S1 0.89408 with break below could see further selling pressure towards S2 at 0.89148. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.90312 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.89600 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 | 0.90832 |
| R2 | 0.90572 |
| R1 | 0.9012 |
| Daily Pivot | 0.8986 |
| S1 | 0.89408 |
| S2 | 0.89148 |
| S3 | 0.88696 |
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