USDCHF Analysis
| Performance after Thursday | |||
| Period | Pct | Chg | Momentum |
| Thursday | -0.73% | -59.0 Pips | ▼ |
| Week to-date | -0.77% | -62.0 Pips | ▼ |
| July | -0.58% | -47.0 Pips | ▼ |
Upcoming key events (GMT+8)
No major events for the day.
What happened lately
The USDCHF currency pair experienced a decline on Thursday, dropping by 0.73% to close at 0.80340. The trading session saw the pair reach a high of 0.80990 and a low of 0.80080. This movement comes amid the release of key U.S. economic data, which may have influenced market sentiment.
On the previous trading day, the U.S. released its Average Hourly Earnings data, which showed a month-over-month increase of 0.3%. This figure was in line with both the consensus and the previous month’s data, indicating stable wage growth. Additionally, the Nonfarm Payroll Employment report revealed an increase of 57,000 jobs, which was significantly below the consensus expectation of 110,000 and the previous month’s figure of 129,000. The lower-than-expected job growth may have contributed to the downward pressure on the USDCHF pair.
Looking ahead, there are no major economic events scheduled that could impact the USDCHF market in the immediate future. As such, traders may continue to focus on the implications of the latest economic data releases.
Overall, the market sentiment appears to be cautious, with the disappointing Nonfarm Payroll figures potentially weighing on the U.S. dollar. The lack of significant upcoming events suggests that the market may remain focused on the recent data as traders assess its impact on the currency pair.
What can we expect from USDCHF today?
USDCHF is experiencing a bearish trend, closing at 0.80340 with a daily performance of -0.73%. The pair remains below the 9-day EMA, indicating continued downward pressure.
📈 Bull Scenario A bullish scenario for USDCHF could emerge if the pair manages to break above the daily pivot of 0.8047. Sustained buying pressure could then target the first resistance level at 0.8086. If momentum continues, the pair might aim for the second resistance level at 0.8138. | 📉 Bear Scenario The bearish outlook remains dominant, with the pair’s current position below the 9-day EMA and falling stochastic. A further decline could see USDCHF testing the first support level at 0.7995. Should bearish momentum persist, the next target would be the second support level at 0.7956. |
Key levels to watch out:
| R3 | 0.8177 |
| R2 | 0.8138 |
| R1 | 0.8086 |
| Daily Pivot | 0.8047 |
| S1 | 0.7995 |
| S2 | 0.7956 |
| S3 | 0.7904 |