USDCHF on Wednesday dropped -0.19% to 0.88520. Pair in consolidation. What we know.

USDCHF Analysis

Performance after Wednesday
PeriodPctChgMomentum
Wednesday-0.19%-17.1 Pips
Week to-date1.21%106 Pips
February2.77%238.6 Pips

Upcoming key events (London Time)

Thu 01:30 PM USD Monthly Retail Trade (1-mth)
Fri 01:30 PM USD PPI excluding Food and Energy sectors (12-mth)

What happened lately

🇺🇸 U.S. CPI Inflation Rate (1-mth) in January rose to 0.3% compared to previous figure 0.2, revised from 0.3% in December Source: Bureau of Labor Statistics
🇺🇸 U.S. CPI Inflation Rate (12-mth) in January dropped to 3.1% compared to previous figure 3.4% in December Source: Bureau of Labor Statistics
🇨🇭 Switzerland CPI Inflation Rate (12-mth) in January dropped to 1.3% compared to previous figure 1.7% in December Source: Federal Statistical Office

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What can we expect from USDCHF today?

USDCHF on Wednesday dropped -0.19% to 0.88520. Price is above 9-Day EMA while Stochastic is falling in overbought zone.

Updated daily direction for USDCHF looks mixed as the pair is likely to consolidate above 0.88354 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.88857 or trades above daily pivot 0.88606. Break above could target R1 at 0.88771. While to the downside, we are looking at 0.88354 (S1) and daily low of 0.88440 as support levels. USDCHF need to break on either side to indicate a short-term bias. A close below 0.88440 would indicate selling pressure.

For the week to-date, take note that USDCHF is bullish as the pair continued to trade higher and is up by 1.21% over the past few days.

Key levels to watch out:

R30.89188
R20.89023
R10.88771
Daily Pivot0.88606
S10.88354
S20.88189
S30.87937

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