USDCHF on Tuesday rose 0.24% to 0.89305. Pair in consolidation. What we know.
|Performance after Tuesday|
|Week to-date||0.2%||17.5 Pips|
Upcoming key events (London Time)
Wed 09:35 PM USD Federal Reserve Chair Jerome Powell speech
Thu 01:30 PM USD GDP Annualized
What happened lately
No major activities.
What can we expect from USDCHF today?
USDCHF on Tuesday rose 0.24% to 0.89305. Price is below 9-Day EMA while Stochastic is rising in oversold zone.
Updated daily direction for USDCHF looks mixed as the pair is likely to consolidate above 0.88949 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.89518 or trades above daily pivot 0.89234. Break above could target R1 at 0.89589. While to the downside, we are looking at 0.88949 (S1) and daily low of 0.88878 as support levels. USDCHF need to break on either side to indicate a short-term bias. A break above 0.89518 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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