USDCHF on Friday dropped -0.02% to 0.88320. Week ending 2024-03-15 rose 0.78%. What happened.

USDCHF Analysis

Performance
PeriodPctChgMomentum
Friday-0.02%-2.1 Pips
Week 2024-03-150.78%68 Pips
March-0.14%-12.7 Pips

Upcoming key events for the new week (London Time)

Wed 06:00 PM FOMC Monetary Policy Statement
Wed 06:00 PM FOMC Economic Projections
Wed 06:00 PM Fed Interest Rate Decision (Federal Funds Rate)
Thu 08:30 AM SNB Monetary Policy Assessment
Thu 08:30 AM SNB Interest Rate Decision (Policy Rate)
Thu 12:30 PM Initial Unemployment Insurance Claims

What happened over the week

🇺🇸 U.S. Michigan Index of Consumer Sentiment in March flash estimate dropped to 76.5 points compared to previous figure 76.9 points in February Source: University of Michigan
🇺🇸 U.S. Industrial Production (1-mth) in February rose to -0.1% compared to previous figure -0.5% (revised from -0.1%)
🇺🇸 U.S. Monthly Retail Trade (1-mth) in February rose to 0.6% compared to previous figure -0.8% in January Source: Census Bureau
🇺🇸 U.S. PPI excluding Food and Energy sectors (12-mth) in February unchanged at 2% compared to previous report in January.
🇺🇸 U.S. Producer Price Index (1-mth) in February rose to 0.6% compared to previous figure 0.3% in January
🇺🇸 U.S. Monthly Budget Statement in February dropped to -296$ compared to previous figure -22$ in January Source: Bureau of the Fiscal Service
🇺🇸 U.S. CPI Inflation Rate (12-mth) in February rose to 3.2% compared to previous figure 3.1% in January Source: Bureau of Labor Statistics
🇺🇸 U.S. CPI Inflation Rate (1-mth) in February rose to 0.4% compared to previous figure 0.3% in January Source: Bureau of Labor Statistics

From X (Twitter)


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

USDCHF on Friday dropped -0.02% to 0.88320. Price is above 9-Day EMA while Stochastic is rising. For the week ending 2024-03-15, the pair rose 0.78% or 68 pips higher.

Looking ahead on Monday, USDCHF looks mixed as the pair is likely to consolidate above week low of 0.87467.

For the new week, our technical outlook is mixed. To see upside interest, we prefer to look at price breakout of week high of 0.89000 or at least consolidates above Weekly Pivot level of 0.88262. On the downside, we are looking at week low 0.87467 or 0.87525 (WS1) as immediate support level. USDCHF need to break on either side to indicate a short-term bias. A break above 0.89000 would suggest bullish bias after recent positive movement.

For the month of March, USDCHF is down by -0.14% or -12.7 pips lower.

Weekly key levels to watch out:

R30.90591
R20.89795
R10.89058
Weekly Pivot0.88262
S10.87525
S20.86729
S30.85992

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