USDCHF on Thursday rose 0.2% to 0.88548. Pair in consolidation. What we know.

USDCHF Analysis

Performance after Thursday
Thursday0.2%18.1 Pips
Week to-date-0.7%-62.2 Pips
May-0.94%-84 Pips

Upcoming key events (London Time)

Fri 01:30 PM USD Nonfarm Payroll Employment

What happened lately

USD Nonfarm Business Labor Productivity in Q1 preliminary estimate dropped to -2.7% compared to previous figure 1.6% (revised from 1.7%). Bureau of Labor Statistics
🇺🇸 In the week ending 29 April, the Initial Unemployment Insurance Claims rose to 242K compared to previous figure 229K (revised from 230K) Department of Labor
🇺🇸 Goods and Services Trade Balance in March exceed forecast and improved to -64.2$ compared to previous figure -70.6, revised from -70.5$ in February
🇺🇸 Fed Interest Rate Decision (Federal Funds Rate) rose to 5.25% compared to previous rate 5% Federal Reserve

USDCHF 4-hour Chart by TradingView

What can we expect from USDCHF today?

USDCHF on Thursday rose 0.2% to 0.88548. Price is below 9-Day EMA while Stochastic is falling.

Updated daily direction for USDCHF looks mixed as the pair is likely to consolidate above 0.88192 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.88914 or trades above daily pivot 0.88553. Break above could target R1 at 0.88909. While to the downside, we are looking at 0.88192 (S1) and daily low of 0.88197 as support levels. USDCHF need to break on either side to indicate a short-term bias. A break above 0.88914 may suggest continuation after recent positive movement.

For the week to-date, take note that USDCHF is bearish as the pair posted lower by -0.7%.

Key levels to watch out:

Daily Pivot0.88553

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