USDCHF on Tuesday rose 0.08% to 0.87871. Pair in consolidation. What we know.

USDCHF Analysis

Performance after Tuesday
Tuesday0.08%7.1 Pips
Week to-date0.31%27.4 Pips
August0.98%85.4 Pips

Upcoming key events (London Time)

Wed 07:00 PM USD FOMC Meeting Minutes

What happened lately

🇺🇸 U.S. Retail Trade Control Group in July rose to 1% compared to previous figure 0.5% (revised from 0.6%) Census Bureau

USDCHF 4-hour Chart by TradingView

What can we expect from USDCHF today?

USDCHF on Tuesday rose 0.08% to 0.87871. Price is above 9-Day EMA while Stochastic is rising in overbought zone.

Updated daily direction for USDCHF looks mixed as the pair is likely to consolidate above 0.87551 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.87966 or trades above daily pivot 0.87758. Break above could target R1 at 0.88079. While to the downside, we are looking at 0.87551 (S1) and daily low of 0.87438 as support levels. USDCHF need to break on either side to indicate a short-term bias. A break above 0.87966 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 0.31% over the past few days.

Key levels to watch out:

Daily Pivot0.87758

You might be interested in:

Advanced Monthly Sales for Retail and Food Services. Census Bureau
Producer and Import Price Index fell in July by 0.1%. Federal Statistical Office

Leave a comment

Your email address will not be published. Required fields are marked *