USDCHF Analysis
| Week Ending 2024-07-26 | |||
| Open | High | Low | Close |
| 0.89 | 0.89 | 0.88 | 0.88 |
| Performance | |||||
| Period | Pct | Chg | Momentum | ||
| Friday | 0.22% | 19.2 Pips |  |
||
| Week 2024-07-26 | -0.55% | -49.1 Pips |  |
||
| July | -1.9% | -171 Pips |  |
||
Upcoming key events for the new week (London Time)
Wed 07:00 PM Fed Interest Rate Decision (Federal Funds Rate)
Wed 11:00 PM National Holiday 
Thu 01:30 PM Initial Unemployment Insurance Claims Fri 07:30 AM CPI Inflation Rate (12-mth) Fri 01:30 PM Nonfarm Payroll Employment Fri 01:30 PM Average Hourly Earnings (1-mth) Fri 01:30 PM Average Hourly Earnings (12-mth)
What happened over the week
🇺🇸 The U.S. Michigan Index of Consumer Sentiment rose to 66.4 points in July, up from 66 points in June. Source: University of Michigan
🇺🇸 U.S. Personal Consumption Expenditures – Price Index (12-mth) in June dropped to 2.5% compared to the previous figure of 2.6% in May. Source: Bureau of Economic Analysis
🇺🇸 U.S. Personal Consumption Expenditures – Price Index (1-mth) in June rose to 0.1% from 0% in May. Source: Bureau of Economic Analysis
🇺🇸 U.S. GDP annual rate in the Q2 flash estimate rose to 2.8%, compared to the previous figure of 1.4% in Q1. Source: Bureau of Economic Analysis
🇺🇸 U.S. Durable Goods – New Orders in June dropped to -6.6% from 0.1% in May. Source: Census Bureau
🇺🇸 U.S. Durable Goods Orders excluding Transportation rose to 0.5% in June compared to -0.1% in May. Source: Census Bureau
🇺🇸 In the week ending 20 July, U.S. Initial Unemployment Insurance Claims dropped to 235K compared to previous figure 245K (revised from 243K) Source: Department of Labor
🇺🇸 U.S. New-Home Sales Change (1-mth) in June improved to -0.6% from a revised -14.9% in May.
From X (Twitter)
Consumer prices remained stable in June #statistics https://t.co/XT2AzaVOSP pic.twitter.com/ZuC7lMY6O2
— Swiss Statistics (@swissstatistics) July 4, 2024
What can we expect from USDCHF for the new week and what happened on Friday?
USDCHF on Friday rose 0.22% to 0.88. Price is below 9-Day EMA while Stochastic is falling. For the week ending 2024-07-26, the pair dropped -0.55% or -49.1 pips lower.
Looking ahead, USDCHF looks bullish as the pair ended higher after Friday trading session.
For the new week, our technical outlook is mixed. To see upside interest, we prefer to look at price breakout of week high of 0.89 or at least consolidates above Weekly Pivot level of 0.88. On the downside, we are looking at week low 0.88 or 0.88 (WS1) as immediate support level. USDCHF need to break on either side to indicate a short-term bias. A close below week low of 0.88 would indicate selling pressure.
For the month of July, USDCHF is down by -1.9% or -171 pips lower.
Weekly key levels to watch out:
| R3 | 0.91 |
| R2 | 0.90 |
| R1 | 0.89 |
| Weekly Pivot | 0.88 |
| S1 | 0.88 |
| S2 | 0.87 |
| S3 | 0.86 |
You might also be interested in:
Gross Domestic Product, Second Quarter 2024 (Advance Estimate) Source: Bureau of Economic Analysis Advance Monthly Manufacturers’ Shipments, Inventories, and Orders Source: Census Bureau New Home Sales Source: Census Bureau Advance Retail Inventories Source: Census Bureau Advance U.S. International Trade in Goods Source: Census Bureau Advance Wholesale Inventories Source: Census Bureau Direct Investment by Country and Industry, 2023 Source: Bureau of Economic Analysis