USDCHF on Friday rose 1.04% to 0.86675. Week ending 2024-02-02 rose 0.36%. What happened.

USDCHF Analysis

Performance
PeriodPctChgMomentum
Friday1.04%89.6 Pips
Week 2024-02-020.36%31.1 Pips
February1.01%86.6 Pips

Upcoming key events for the new week (London Time)

Mon 12:00 AM Federal Reserve Chair Jerome Powell speech
Thu 01:30 PM Initial Unemployment Insurance Claims

What happened over the week

🇺🇸 U.S. Michigan Index of Consumer Sentiment in January rose to 79 points compared to previous figure 78.8 points in December Source: University of Michigan
🇺🇸 U.S. Factory Orders (1-mth) in December dropped to 0.2% compared to previous figure 2.6% in November Source: Census Bureau
🇺🇸 U.S. Nonfarm Payroll Employment in January rose to 353K compared to previous figure 333K (revised upward from 216K) in December Source: Bureau of Labor Statistics
🇺🇸 In the week ending 27 January, U.S. Initial Unemployment Insurance Claims rose to 224K compared to previous figure 215K (revised from 214K) Source: Department of Labor
🇺🇸 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 (ECI) in Q4 below forecast and dropped to 0.9% compared to previous figure 1.1% in Q3 Source: Bureau of Labor Statistics
🇨🇭 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.

From X (Twitter)


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

USDCHF on Friday rose 1.04% to 0.86675. Price is above 9-Day EMA while Stochastic is rising. For the week ending 2024-02-02, the pair rose 0.36% or 31.1 pips higher.

Looking ahead on Monday, USDCHF looks bullish as the pair ended higher after Friday trading session.

For the new week, our technical outlook is mixed. To see upside interest, we prefer to look at price breakout of week high of 0.86806 or at least consolidates above Weekly Pivot level of 0.86328. On the downside, we are looking at week low 0.85504 or 0.85851 (WS1) as immediate support level. USDCHF need to break on either side to indicate a short-term bias. A break above 0.86806 would suggest bullish bias after recent positive movement.

For the month of February, USDCHF is up by 1.01% or 86.6 pips higher.

Weekly key levels to watch out:

R30.88455
R20.87630
R10.87153
Weekly Pivot0.86328
S10.85851
S20.85026
S30.84549

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