USDCHF Analysis
| Performance after Monday | |||||
| Period | Pct | Chg | Momentum | ||
| Monday | -0.27% | -22.6 Pips |  |
||
| Week to-date | -0.22% | -18.3 Pips |  |
||
| September | -0.21% | -18 Pips | |
||
Upcoming key events (London Time)
Tue 01:30 PM USD Monthly Retail Trade (1-mth) Wed 07:00 PM USD Fed Interest Rate Decision (Federal Funds Rate) Wed 07:00 PM USD Interest Rate Projections
What happened lately
The U.S. New York Empire State Manufacturing Index witnessed a notable increase in September, rising to 11.5 points from -4.7 points in August. This positive shift indicates a significant improvement in manufacturing activity within the New York region, suggesting that businesses are experiencing improved conditions and potential growth in production. The data released by the New York Federal Reserve highlights a rebounding manufacturing sector, which could be an encouraging sign for the overall U.S. economy, signaling better business confidence and economic resilience.
Despite this positive data, USDCHF dropped by -0.27% to 0.84513 on Monday. There’s keen anticipation for the upcoming high-impact economic events that include the U.S. Monthly Retail Trade data, the Federal Reserve’s Interest Rate Decision, and Interest Rate Projections. These events are likely to have substantial impacts on the currency pair. Strong retail sales figures could boost the U.S. dollar as they indicate consumer spending strength. On the other hand, any adjustments or projections by the Federal Reserve regarding interest rates will be closely watched, potentially leading to volatility in USDCHF depending on whether the Fed adopts a hawkish or dovish stance.
Latest from X (Twitter)
What can we expect from USDCHF today?
USDCHF on Monday dropped -0.27% to 0.84513. 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 0.84298 with break below could see further selling pressure towards S2 at 0.84083. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.84812 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.84340 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 | 0.85242 |
| R2 | 0.85027 |
| R1 | 0.8477 |
| Daily Pivot | 0.84555 |
| S1 | 0.84298 |
| S2 | 0.84083 |
| S3 | 0.83826 |
#USDCHF Trending on Twitter
[custom-twitter-feeds hashtag=”#USDCHF” num=3 showheader=false]