USDCHF on Friday dropped -0.16% to 0.88306. Week ending 2024-03-01 rose 0.29%. What happened.

USDCHF Analysis

Performance
PeriodPctChgMomentum
Friday-0.16%-14.1 Pips
Week 2024-03-010.29%25.2 Pips
March-0.16%-14.1 Pips

Upcoming key events for the new week (London Time)

Mon 07:30 AM CPI Inflation Rate (12-mth)
Thu 01:30 PM Initial Unemployment Insurance Claims
Thu 03:00 PM Federal Reserve Chair Jerome Powell testifies
Fri 01:30 PM Nonfarm Payroll Employment

What happened over the week

🇺🇸 U.S. Michigan Index of Consumer Sentiment in February dropped to 76.9 points compared to previous figure 79.6 points in January Source: University of Michigan
🇨🇭 Switzerland Real Retail Trade (12-mth) in January rose to 0.3% compared to previous figure -0.1, revised from -0.8% in December Source: Federal Statistical Office
🇺🇸 U.S. Personal Consumption Expenditures – Price Index (1-mth) in January rose to 0.3% compared to previous figure 0.2% in December
🇺🇸 U.S. Personal Income (1-mth) in January rose to 1% compared to previous figure 0.3% in December Source: Bureau of Economic Analysis
🇨🇭 Switzerland GDP (seasonally adjusted) (3-mth) in Q4 unchanged at 0.3% compared to previous report in Q3. Source: State Secretariat for Economic Affairs
🇺🇸 U.S. Core Personal Consumption Expenditures (3-mth) in Q4 flash estimate rose to 2.1% compared to previous figure 2% in Q3 Source: Bureau of Economic Analysis
🇺🇸 U.S. GDP Annualized in Q4 flash estimate dropped to 3.2% compared to previous figure 3.3% in Q3 Source: Bureau of Economic Analysis
🇺🇸 U.S. Housing Price Index (1-mth) in December dropped to 0.1% compared to previous figure 0.4, revised from 0.3% in November
🇺🇸 U.S. Durable Goods Orders in January dropped to -6.1% compared to previous figure -0.3, revised from 0% in December 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 -0.16% to 0.88306. Price is above 9-Day EMA while Stochastic is rising. For the week ending 2024-03-01, the pair rose 0.29% or 25.2 pips higher.

Looking ahead on Monday, USDCHF looks mixed as the pair is likely to consolidate above week low of 0.87776.

For the new week, our technical outlook is mixed. To see upside interest, we prefer to look at price breakout of week high of 0.88926 or at least consolidates above Weekly Pivot level of 0.88336. On the downside, we are looking at week low 0.87776 or 0.87746 (WS1) as immediate support level. USDCHF need to break on either side to indicate a short-term bias. A break above 0.88926 would suggest bullish bias after recent positive movement.

For the month of March, USDCHF is down by -0.16% or -14.1 pips lower.

Weekly key levels to watch out:

R30.90046
R20.89486
R10.88896
Weekly Pivot0.88336
S10.87746
S20.87186
S30.86596

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