USDCHF on Friday rose 0.09% to 0.85259. Week ending 2024-01-12 rose 0.37%. What happened.

USDCHF Analysis

Performance
PeriodPctChgMomentum
Friday0.09%7.9 Pips
Week 2024-01-120.37%31.4 Pips
January1.37%115 Pips

Upcoming key events for the new week (London Time)

Mon 05:00 AM Martin Luther King Jr. Day
Wed 01:30 PM Monthly Retail Trade (1-mth)
Thu 01:30 PM Initial Unemployment Insurance Claims

What happened over the week

🇺🇸 U.S. Producer Price Index (12-mth) in December below forecast and rose to 1% compared to previous figure 0.8, revised from 0.9% in November
🇺🇸 U.S. Monthly Budget Statement in December below forecast and improved to -129$ compared to previous figure -314$ in November Source: Bureau of the Fiscal Service
🇺🇸 U.S. CPI Inflation Rate (12-mth) in December exceed forecast and rose to 3.4% compared to previous figure 3.1% in November Source: Bureau of Labor Statistics
🇺🇸 U.S. CPI Inflation Rate (1-mth) in December exceed forecast and rose to 0.3% compared to previous figure 0.1% in November Source: Bureau of Labor Statistics
🇺🇸 In the week ending 06 January, U.S. Initial Unemployment Insurance Claims dropped to 202K compared to previous figure 203K (revised from 202K) Source: Department of Labor
🇨🇭 Switzerland CPI Inflation Rate (12-mth) in December exceed forecast and rose to 1.7% compared to previous figure 1.4% in November Source: Federal Statistical Office
🇨🇭 Switzerland CPI Inflation Rate (1-mth) in December exceed forecast and rose to 0% compared to previous figure -0.2% in November Source: Federal Statistical Office
🇨🇭 Switzerland Real Retail Trade (12-mth) in November rose to 0.7% compared to previous figure -0.3, revised from -0.1% in October Source: Federal Statistical Office

From X (Twitter)


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

USDCHF on Friday rose 0.09% to 0.85259. Price is above 9-Day EMA while Stochastic is rising. For the week ending 2024-01-12, the pair rose 0.37% or 31.4 pips higher.

Looking ahead on Monday, USDCHF looks mixed as the pair is likely to consolidate above week low of 0.84599.

For the new week, our technical outlook is mixed. To see upside interest, we prefer to look at price breakout of week high of 0.85662 or at least consolidates above Weekly Pivot level of 0.85173. On the downside, we are looking at week low 0.84599 or 0.84685 (WS1) as immediate support level. USDCHF need to break on either side to indicate a short-term bias. A break above 0.85662 would suggest bullish bias after recent positive movement.

For the month of January, USDCHF is up by 1.37% or 115 pips higher.

Weekly key levels to watch out:

R30.86811
R20.86236
R10.85748
Weekly Pivot0.85173
S10.84685
S20.84110
S30.83622

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