USDCHF on Wednesday dropped -0.08% to 0.88910. Pair in consolidation. What we know.
USDCHF Analysis
| Performance after Wednesday | |||||
| Period | Pct | Chg | Momentum | ||
| Wednesday | -0.08% | -6.9 Pips |  | ||
| Week to-date | -0.13% | -11.5 Pips | | ||
| May | -0.51% | -45.7 Pips | | ||
Upcoming key events (London Time)
Fri 03:00 PM USD Michigan Index of Consumer Sentiment
What happened lately
🇺🇸 CPI Inflation Rate (12-mth) in April below forecast and dropped to 4.9% compared to previous figure 5% in March Bureau of Labor Statistics
What can we expect from USDCHF today?
USDCHF on Wednesday dropped -0.08% to 0.88910. Price is below 9-Day EMA while Stochastic is rising.
Updated daily direction for USDCHF looks mixed as the pair is likely to consolidate above 0.88629 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.89273 or trades above daily pivot 0.88951. Break above could target R1 at 0.89232. While to the downside, we are looking at 0.88629 (S1) and daily low of 0.88670 as support levels. USDCHF need to break on either side to indicate a short-term bias. A close below 0.88670 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 | 0.89835 |
| R2 | 0.89554 |
| R1 | 0.89232 |
| Daily Pivot | 0.88951 |
| S1 | 0.88629 |
| S2 | 0.88348 |
| S3 | 0.88026 |
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In April, the Consumer Price Index for All Urban Consumers increased 0.4 percent, seasonally adjusted, and rose 4.9 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy increased 0.4 percent in April (SA); up 5.5 percent over the year (NSA).. Bureau of Labor Statistics Publications Monthly Wholesale Trade: Sales and Inventories. Census Bureau
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#USDJPY is @ 133.54, projected to reach 133.49 (-5.43 pips) in the next 60 minutes (med.) - probability 65.65%
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