USDCHF Analysis

Performance
Period	Pct	Chg	Momentum
Friday	-0.03%	-2.8 Pips
Week 2023-11-10	0.41%	36.9 Pips
November	-0.81%	-73.6 Pips

Upcoming key events for the new week (London Time)

Tue 07:45 AM SNB’s Chairman Thomas Jordan speech
Tue 01:30 PM CPI Inflation Rate (1-mth)
Tue 01:30 PM CPI Inflation Rate (12-mth)
Wed 01:30 PM PPI excluding Food and Energy sectors (12-mth)
Wed 01:30 PM Monthly Retail Trade (1-mth)
Thu 01:30 PM Initial Unemployment Insurance Claims

What happened over the week

🇺🇸 U.S. UoM 5-year Consumer Inflation Expectation in November preliminary estimate exceed forecast and rose to 3.2% compared to previous figure 3% in October Source: University of Michigan
🇺🇸 U.S. Michigan Index of Consumer Sentiment in November preliminary estimate below forecast and dropped to 60.4 points compared to previous figure 63.8 points in October Source: University of Michigan

From X (Twitter)

Money Market Event, Geneva: The speech «Implementing monetary policy with positive interest rates and a large balance sheet: First experiences» by Thomas Moser is available on our website (in English, French, German and Italian).
https://t.co/iLV63bu87R pic.twitter.com/oT842cGGQQ

— Swiss National Bank (@SNB_BNS) November 9, 2023

What can we expect from USDCHF for the new week and what happened on Friday?

USDCHF on Friday dropped -0.03% to 0.90251. Price is above 9-Day EMA while Stochastic is rising. For the week ending 2023-11-10, the pair rose 0.41% or 36.9 pips higher.

Looking ahead on Monday, USDCHF looks mixed as the pair is likely to consolidate above week low of 0.89532.

For the new week, our technical outlook is mixed. To see upside interest, we prefer to look at price breakout of week high of 0.90459 or at least consolidates above Weekly Pivot level of 0.90081. On the downside, we are looking at week low 0.89532 or 0.89702 (WS1) as immediate support level. USDCHF need to break on either side to indicate a short-term bias. A break above 0.90459 would suggest bullish bias after recent positive movement.

For the month of November, USDCHF is down by -0.81% or -73.6 pips lower.

Weekly key levels to watch out:

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