USDCHF on Tuesday dropped -0.38% to 0.90504. Pair in consolidation. What we know.
|Performance after Tuesday|
|Week to-date||0.26%||23.2 Pips|
Upcoming key events (London Time)
Wed 07:00 PM USD Fed Interest Rate Decision (Federal Funds Rate)
Wed 07:00 PM USD Interest Rate Projections
Thu 01:30 PM USD Monthly Retail Trade (1-mth)
What happened lately
🇺🇸 U.S. CPI Inflation Rate (12-mth) in May below forecast and dropped to 4% compared to previous figure 4.9% in April Bureau of Labor Statistics
🇺🇸 U.S. Monthly Budget Statement in May exceed forecast and dropped to -240$ compared to previous figure 176$ in April Bureau of the Fiscal Service
What can we expect from USDCHF today?
USDCHF on Tuesday dropped -0.38% to 0.90504. 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 0.90248 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.90894 or trades above daily pivot 0.90571. Break above could target R1 at 0.90827. While to the downside, we are looking at 0.90248 (S1) and daily low of 0.90315 as support levels. USDCHF need to break on either side to indicate a short-term bias. A close below 0.90315 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:
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CPI for all items rises 0.1% in May; shelter and used cars and trucks up. Bureau of Labor Statistics
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