USDCHF on Thursday dropped -0.18% to 0.87817. Pair in consolidation. What we know.

USDCHF Analysis

Performance after Thursday
Thursday-0.18%-15.9 Pips
Week to-date0.25%21.7 Pips
August0.92%79.7 Pips

Upcoming key events (London Time)

No major events for the day.

What happened lately

🇺🇸 In the week ending 12 August, U.S. Initial Unemployment Insurance Claims dropped to 239K compared to previous figure 250K (revised upward from 248K) Department of Labor
🇺🇸 U.S. Philadelphia Fed Manufacturing Survey in August exceed forecast and rose to 12 points compared to previous figure -13.5 points in July
🇺🇸 U.S. Industrial Production (1-mth) in July rose to 1% compared to previous figure -0.8% (revised from -0.5%)

USDCHF 4-hour Chart by TradingView

What can we expect from USDCHF today?

USDCHF on Thursday dropped -0.18% to 0.87817. Price is above 9-Day EMA while Stochastic is falling in overbought zone.

Updated daily direction for USDCHF looks mixed as the pair is likely to consolidate above 0.87577 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.88096 or trades above daily pivot 0.87836. Break above could target R1 at 0.88077. While to the downside, we are looking at 0.87577 (S1) and daily low of 0.87596 as support levels. USDCHF need to break on either side to indicate a short-term bias. A close below 0.87596 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:

Daily Pivot0.87836

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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