USDCHF on Wednesday rose 0.01% to 0.86176. End January up by 2.46% or 207.3 pips higher. Pair in consolidation. What we know.

USDCHF Analysis

Performance after Wednesday
PeriodPctChgMomentum
Wednesday0.01%0.6 Pips
Week to-date-0.21%-18.2 Pips
January2.46%207.3 Pips

Upcoming key events (London Time)

Fri 01:30 PM USD Nonfarm Payroll Employment

What happened lately

🇺🇸 U.S. Fed Interest Rate Decision (Federal Funds Rate) unchanged at 5.5% compared to previous rate 5.5% Source: Federal Reserve
🇺🇸 U.S. Employment Cost Index in Q4 below forecast and dropped to 0.9% compared to previous figure 1.1% in Q3
🇨🇭 Switzerland ZEW Survey – Expectations in January below forecast and improved to -19.5 points compared to previous figure -23.7 points in December Source: ZEW
🇨🇭 Switzerland Real Retail Trade (12-mth) in December below forecast and improved to -0.8% compared to previous figure -1.5, revised from 0.7% in November Source: Federal Statistical Office
🇺🇸 U.S. Job Openings and Labor Turnover Survey (JOLTS) in December exceed forecast and rose to 9.026M compared to previous figure 8.925, revised from 8.79M in November Source: Bureau of Labor Statistics
🇺🇸 U.S. Housing Price Index (1-mth) in November unchanged at 0.3% compared to previous report in October.

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What can we expect from USDCHF today?

USDCHF on Wednesday rose 0.01% to 0.86176. Price is below 9-Day EMA while Stochastic is rising.

Updated daily direction for USDCHF looks mixed as the pair is likely to consolidate above 0.85642 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.86435 or trades above daily pivot 0.86038. Break above could target R1 at 0.86573. While to the downside, we are looking at 0.85642 (S1) and daily low of 0.85504 as support levels. USDCHF need to break on either side to indicate a short-term bias. A break above 0.86435 may suggest continuation after recent positive movement.

For the week to-date, take note that USDCHF is mixed as compared to the prior week.

USDCHF ended month of January trading session up by 2.46% or 207.3 pips higher.

Key levels to watch out:

R30.87504
R20.86969
R10.86573
Daily Pivot0.86038
S10.85642
S20.85107
S30.84711

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