USDCHF on Thursday rose 0.04% to 0.90517. Pair in consolidation. What we know.

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USDCHF Analysis

Performance after Thursday
Period Pct Chg Momentum
Thursday 0.04% 3.2 Pips
Week to-date 0.68% 61 Pips
May 1.27% 113.9 Pips

Upcoming key events (London Time)

Fri 01:30 PM USD Durable Goods Orders
Fri 01:30 PM USD Nondefense Capital Goods Orders excluding Aircraft

What happened lately

🇺🇸 Personal Consumption Expenditures Prices (3-mth) in Q1 preliminary estimate unchanged at 4.2% compared to previous report in Q4. The actual figure is also in line with the forecast Bureau of Economic Analysis
🇺🇸 In the week ending 20 May, the Initial Unemployment Insurance Claims rose to 229K compared to previous figure 225K (revised from 242K) Department of Labor
🇺🇸 Chicago Fed National Activity Index in April exceed forecast and rose to 0.07 points compared to previous figure -0.37, revised from -0.19 points in March

USDCHF 4-hour Chart by TradingView

What can we expect from USDCHF today?

USDCHF on Thursday rose 0.04% to 0.90517. Price is above 9-Day EMA while Stochastic is rising.

Updated daily direction for USDCHF looks mixed as the pair is likely to consolidate above 0.90349 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.90733 or trades above daily pivot 0.90541. Break above could target R1 at 0.90709. While to the downside, we are looking at 0.90349 (S1) and daily low of 0.90373 as support levels. USDCHF need to break on either side to indicate a short-term bias. A break above 0.90733 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 0.91069
R2 0.90901
R1 0.90709
Daily Pivot 0.90541
S1 0.90349
S2 0.90181
S3 0.89989

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