USDCHF on Friday dropped -0.36% to 0.86390. Week ending 2024-01-26 moved lower by -0.43%. What happened.

USDCHF Analysis

Friday-0.36%-31.3 Pips
Week 2024-01-26-0.43%-37.4 Pips
January2.71%228.1 Pips

Upcoming key events for the new week (London Time)

Wed 07:00 PM Fed Interest Rate Decision (Federal Funds Rate)
Thu 01:30 PM Initial Unemployment Insurance Claims
Fri 01:30 PM Nonfarm Payroll Employment

What happened over the week

🇺🇸 U.S. Personal Consumption Expenditures – Price Index (12-mth) in December unchanged at 2.6% compared to previous report in November. The actual figure is also in line with the forecast
🇺🇸 U.S. Gross Domestic Product Price Index in Q4 preliminary estimate below forecast and dropped to 1.5% compared to previous figure 3.3% in Q3 Source: Bureau of Economic Analysis
🇺🇸 U.S. Core Personal Consumption Expenditures (3-mth) in Q4 preliminary estimate unchanged at 2% compared to previous report in Q3. The actual figure is also in line with the forecast Source: Bureau of Economic Analysis
🇺🇸 In the week ending 20 January, U.S. Initial Unemployment Insurance Claims rose to 214K compared to previous figure 189K (revised from 187K) Source: Department of Labor
🇺🇸 U.S. Durable Goods Orders excluding Transportation in December exceed forecast and rose to 0.6% compared to previous figure 0.4, revised from 0.5% in November Source: Census Bureau

From X (Twitter)

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

USDCHF on Friday dropped -0.36% to 0.86390. Price is below 9-Day EMA while Stochastic is falling. For the week ending 2024-01-26, the pair dropped -0.43% or -37.4 pips lower.

Looking ahead on Monday, USDCHF looks mixed as the pair is likely to consolidate above week low of 0.86061.

For the new week, our technical outlook is mixed. To see upside interest, we prefer to look at price breakout of week high of 0.87282 or at least consolidates above Weekly Pivot level of 0.86578. On the downside, we are looking at week low 0.86061 or 0.85873 (WS1) as immediate support level. USDCHF need to break on either side to indicate a short-term bias. A close below week low of 0.86061 would indicate selling pressure.

For the month of January, USDCHF is up by 2.71% or 228.1 pips higher.

Weekly key levels to watch out:

Weekly Pivot0.86578

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