USDCHF Analysis
| Performance after Wednesday | |||||
| Period | Pct | Chg | Momentum | ||
| Wednesday | 0.41% | 35.3 Pips |  |
||
| Week to-date | 2.4% | 201.8 Pips | |
||
| October | 1.82% | 153.9 Pips |  |
||
Upcoming key events (London Time)
Thu 01:30 PM USD CPI Inflation Rate (12-mth) Fri 01:30 PM USD Producer Price Index (12-mth)
What happened lately
Although there are no significant economic news events reported, it is noted that the USDCHF currency pair experienced a rise of 0.41%, bringing its level to 0.86068 as of Wednesday. Upcoming events from the source Economic Recap, which are expected to influence the economic landscape, include the release of the United States CPI Inflation Rate data on Thursday at 1:30 PM and the Producer Price Index data on Friday at the same time. These reports, classified as high impact, have the potential to create fluctuations in the market.
The forthcoming economic data on the USD, particularly the Consumer Price Index (CPI) and Producer Price Index (PPI), could serve as influential determinants for market sentiment regarding the USDCHF pair. Given the USDCHF’s recent upward movement, any indications of inflationary pressures reflected in the CPI or PPI might reinforce the existing trend or suggest further strength of the USD. If the inflation data comes in higher than expected, it could bolster expectations of tighter monetary policies from the Federal Reserve, thereby supporting the USD and potentially leading to further appreciation against the CHF. Conversely, should the data underwhelm, signaling lower inflationary pressures, it could dampen the momentum of the USDCHF’s recent rise, encouraging traders to reassess their positions.
Latest from X (Twitter)
What can we expect from USDCHF today?
USDCHF on Wednesday rose 0.41% to 0.86068. Price is above 9-Day EMA while Stochastic is rising.
Updated daily direction for USDCHF looks bullish as the pair ended higher after Wednesday trading session.
Looking ahead for the day, immediate upside resistance level is R1 at 0.8623 with break above could target R2 at 0.86391 or figure level area. While towards the downside, we are looking at daily low of 0.85651 as an important support. Break below this level could weaken the current bullish momentum. A break above 0.86102 may suggest continuation after recent positive movement.
For the week to-date, take note that USDCHF is bullish as the pair continued to trade higher and is up by 2.4% over the past few days.
Key levels to watch out:
| R3 | 0.86681 |
| R2 | 0.86391 |
| R1 | 0.8623 |
| Daily Pivot | 0.8594 |
| S1 | 0.85779 |
| S2 | 0.85489 |
| S3 | 0.85328 |
#USDCHF Trending on Twitter
[custom-twitter-feeds hashtag=”#USDCHF” num=3 showheader=false]