USDCHF on Wednesday rose 0.21% to 0.87985. What we know.

USDCHF Analysis

Performance after Wednesday
Wednesday0.21%18.6 Pips
Week to-date0.43%38 Pips
August1.1%96 Pips

Upcoming key events (London Time)

No major events for the day.

What happened lately

🇺🇸 U.S. Industrial Production (1-mth) in July rose to 1% compared to previous figure -0.8% (revised from -0.5%)
🇺🇸 U.S. Monthly Retail Trade (1-mth) in July exceed forecast and rose to 0.7% compared to previous figure 0.2% in June Census Bureau
🇺🇸 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 Wednesday rose 0.21% to 0.87985. Price is above 9-Day EMA while Stochastic is rising in overbought zone.

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 0.88173 with break above could target R2 at 0.88361 or figure level area. While towards the downside, we are looking at daily low of 0.87739 as an important support. Break below this level could weaken the current bullish momentum. A break above 0.88144 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 0.43% over the past few days.

Key levels to watch out:

Daily Pivot0.87956

You might be interested in:

Minutes of the Federal Open Market Committee, July 25-26, 2023. Federal Reserve
New Residential Construction. Census Bureau
Manufacturing and Trade Inventories and Sales. Census Bureau
Advanced Monthly Sales for Retail and Food Services. Census Bureau
Producer and Import Price Index fell in July by 0.1%. Federal Statistical Office

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