USDCHF on Friday rose 0.13% to 0.88123. Week ending 2024-02-23 rose 0.11%. What happened.

USDCHF Analysis

Performance
PeriodPctChgMomentum
Friday0.13%11.3 Pips
Week 2024-02-230.11%9.8 Pips
February2.31%198.9 Pips

Upcoming key events for the new week (London Time)

Wed 01:30 PM GDP Annualized
Thu 08:00 AM GDP (seasonally adjusted) (3-mth)
Thu 01:30 PM Initial Unemployment Insurance Claims
Thu 01:30 PM Personal Consumption Expenditures Price Index (12-mth)
Thu 01:30 PM Personal Consumption Expenditures Price Index (1-mth)

What happened over the week

No major activities.

From X (Twitter)


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

USDCHF on Friday rose 0.13% to 0.88123. Price is above 9-Day EMA while Stochastic is rising. For the week ending 2024-02-23, the pair rose 0.11% or 9.8 pips higher.

Looking ahead on Monday, USDCHF looks mixed as the pair is likely to consolidate above week low of 0.87418.

For the new week, our technical outlook is mixed. To see upside interest, we prefer to look at price breakout of week high of 0.88378 or at least consolidates above Weekly Pivot level of 0.87973. On the downside, we are looking at week low 0.87418 or 0.87568 (WS1) as immediate support level. USDCHF need to break on either side to indicate a short-term bias. A break above 0.88378 would suggest bullish bias after recent positive movement.

For the month of February, USDCHF is up by 2.31% or 198.9 pips higher.

Weekly key levels to watch out:

R30.89488
R20.88933
R10.88528
Weekly Pivot0.87973
S10.87568
S20.87013
S30.86608

Leave a comment

Your email address will not be published. Required fields are marked *