USDCHF on Tuesday rose 0.04% to 0.90006. Pair in consolidation. What we know.
|Performance after Tuesday|
|Week to-date||-0.23%||-21.2 Pips|
Upcoming key events (London Time)
No major events for the day.
What happened lately
🇺🇸 U.S. Monthly Retail Trade (1-mth) in September exceed forecast and dropped to 0.7% compared to previous figure 0.8, revised from 0.6% in August Census Bureau
🇺🇸 U.S. New York Empire State Manufacturing Index in October below forecast and dropped to -4.6 points compared to previous figure 1.9 points in September
What can we expect from USDCHF today?
USDCHF on Tuesday rose 0.04% to 0.90006. Price is below 9-Day EMA while Stochastic is falling in oversold zone.
Updated daily direction for USDCHF looks mixed as the pair is likely to consolidate above 0.89827 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.90320 or trades above daily pivot 0.90074. Break above could target R1 at 0.90252. While to the downside, we are looking at 0.89827 (S1) and daily low of 0.89895 as support levels. USDCHF need to break on either side to indicate a short-term bias. A break above 0.90320 may suggest continuation after recent positive movement.
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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Minutes of the Board’s discount rate meetings from August 21 and September 20, 2023. Federal Reserve
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