USDCHF edges higher with 0.15% increase to close at 0.78600
USDCHF Analysis
| Performance after Thursday | |||
| Period | Pct | Chg | Momentum |
| Thursday | 0.15% | 12.0 Pips | ▲ |
| Week to-date | 0.4% | 31.0 Pips | ▲ |
| April | -1.79% | -143.0 Pips | ▼ |
Upcoming key events (GMT+8)
| Time (GMT+8) | Currency | Impact | Event |
| Fri 04:00 PM | CHF | HIGH | SNB Chairman Schlegel speech |
What happened lately
The USDCHF currency pair experienced a modest increase of 0.15% on Thursday, closing at 0.78600. The trading session saw the pair reach a high of 0.78730 and a low of 0.78300. Despite the absence of major economic releases during this period, the USDCHF managed to edge higher.
In terms of upcoming events, market participants will be closely monitoring the speech by SNB Chairman Schlegel, scheduled for Friday at 4:00 PM GMT+8. This event is categorized as having a high impact, suggesting that any remarks or insights from the SNB Chairman could potentially influence the Swiss Franc’s movement.
On the broader economic front, the latest data from the United States indicated an increase in Initial Unemployment Insurance Claims, rising to 214,000 from the previous 207,000. While this data point is relevant to the U.S. economy, its direct impact on the USDCHF pair is not immediately clear from the information provided.
Overall, the market sentiment surrounding the USDCHF appears to be cautiously optimistic, as evidenced by the slight upward movement in price. Traders are likely positioning themselves ahead of the SNB Chairman’s speech, which could provide further direction for the pair. As always, market participants should remain vigilant and consider any new developments that may arise from the upcoming event.
What can we expect from USDCHF today?
As we move into Thursday’s trading session, USDCHF is showing a modest daily gain of 0.15%, closing at 0.78600. With a bullish daily outlook, traders are closely monitoring the pair’s movements to gauge potential opportunities.
📈 Bull Scenario In a bullish scenario, USDCHF could be propelled higher if it maintains its position above the 9-day EMA, indicating continued upward momentum. Traders should watch for a break above the immediate resistance level at R1: 0.78787, which could pave the way for further gains towards R2: 0.78973. A sustained move above these levels would reinforce the bullish sentiment. | 📉 Bear Scenario Conversely, a bearish turn could be triggered if the pair fails to hold above the daily pivot of 0.78543, especially with the stochastic indicator currently falling. In this case, traders should monitor the support levels at S1: 0.78357 and S2: 0.78113. A breach below these supports could signal a deeper correction, challenging the bullish outlook for the day. |
Key levels to watch out:
| R3 | 0.79217 |
| R2 | 0.78973 |
| R1 | 0.78787 |
| Daily Pivot | 0.78543 |
| S1 | 0.78357 |
| S2 | 0.78113 |
| S3 | 0.77927 |
