USDCHF Analysis
| Performance after Thursday | |||||
| Period | Pct | Chg | Momentum | ||
| Thursday | -0.21% | -18.8 Pips |  |
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| Week to-date | 0.31% | 28.4 Pips |  |
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| April | 1.26% | 113.9 Pips | |
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Upcoming key events (London Time)
Fri 09:00 AM CHF SNB’s Chairman Thomas Jordan speech
Fri 01:30 PM USD Personal Consumption Expenditures Price Index (1-mth) Fri 01:30 PM USD Personal Consumption Expenditures Price Index (12-mth)
What happened lately
🇺🇸 U.S. Core Personal Consumption Expenditures (3-mth) in Q1 flash estimate rose to 3.7% compared to previous figure 2% in Q4 Source: Bureau of Economic Analysis 🇺🇸 U.S. GDP Annualized in Q1 flash estimate dropped to 1.6% compared to previous figure 3.4% in Q4 Source: Bureau of Economic Analysis 🇺🇸 In the week ending 20 April, U.S. Initial Unemployment Insurance Claims dropped to 207K compared to previous figure 212K Source: Department of Labor 🇺🇸 U.S. Nondefense Capital Goods Orders excluding Aircraft in March dropped to 0.2% compared to previous figure 0.4% (revised from 0.7%) Source: Census Bureau 🇨🇭 Switzerland ZEW Survey – Expectations in April rose to 17.6 points compared to previous figure 11.5 points in March Source: ZEW
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What can we expect from USDCHF today?
USDCHF on Thursday dropped -0.21% to 0.91239. Price is above 9-Day EMA while Stochastic is rising in overbought zone.
Updated daily direction for USDCHF looks bearish as the pair posted lower in Thursday trading session.
Looking ahead for the day, immediate support level is at S1 0.9105 with break below could see further selling pressure towards S2 at 0.90861. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.91568 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.91120 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 | 0.91946 |
| R2 | 0.91757 |
| R1 | 0.91498 |
| Daily Pivot | 0.91309 |
| S1 | 0.9105 |
| S2 | 0.90861 |
| S3 | 0.90602 |
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