USDCHF Analysis
| Performance after Wednesday | |||
| Period | Pct | Chg | Momentum |
| Wednesday | 0.2% | 16.0 Pips | ▲ |
| Week to-date | 0.43% | 34.0 Pips | ▲ |
| June | 2.38% | 186.0 Pips | ▲ |
Upcoming key events (GMT+8)
| Time (GMT+8) | Currency | Impact | Event |
| Thu 08:30 PM | USD | HIGH | PPI excluding Food and Energy sectors (12-mth) |
| Fri 10:00 PM | USD | HIGH | Index of Consumer Sentiment |
What happened lately
The USDCHF currency pair experienced a modest increase on Wednesday, rising by 0.2% to reach 0.79960. The trading session saw the pair hit a high of 0.80010 and a low of 0.79630. This movement comes in the wake of the latest U.S. Consumer Price Index (CPI) inflation data, which was released on the previous trading day. The CPI for the month was reported at 0.5%, aligning with market expectations and slightly lower than the previous month’s figure of 0.6%.
Looking ahead, market participants are likely to focus on upcoming U.S. economic data releases that could influence the USDCHF pair. On Thursday at 8:30 PM GMT+8, the Producer Price Index (PPI) excluding food and energy sectors is scheduled for release, which is expected to have a high impact on the market. Additionally, on Friday at 10:00 PM GMT+8, the Index of Consumer Sentiment will be published, also carrying a high impact designation.
The recent price action in the USDCHF pair suggests a cautious market sentiment, with traders possibly positioning themselves ahead of these key economic indicators. The alignment of the CPI data with expectations may have provided some stability to the U.S. dollar, contributing to the slight appreciation against the Swiss franc. However, the upcoming data releases will likely play a significant role in shaping the pair’s direction in the near term.
What can we expect from USDCHF today?
USDCHF is showing a bullish daily outlook with a 0.2% gain, closing at 0.79960. The pair remains above its 9-day EMA, suggesting continued upward momentum.
📈 Bull Scenario If USDCHF maintains its bullish momentum, a break above the daily high of 0.80010 could lead to testing the first resistance level at 0.80103. Further bullish pressure might push the pair towards the second resistance level at 0.80247. | 📉 Bear Scenario On the downside, a reversal could be triggered if USDCHF falls below the daily pivot at 0.79867. In this scenario, the first support level at 0.79723 becomes a key area to watch, with further declines potentially targeting the second support level at 0.79487. |
Key levels to watch out:
| R3 | 0.80483 |
| R2 | 0.80247 |
| R1 | 0.80103 |
| Daily Pivot | 0.79867 |
| S1 | 0.79723 |
| S2 | 0.79487 |
| S3 | 0.79343 |