USDCHF Analysis
| Performance after Wednesday | |||
| Period | Pct | Chg | Momentum |
| Wednesday | -0.48% | -39.0 Pips | ▼ |
| Week to-date | -0.42% | -34.0 Pips | ▼ |
| July | -0.38% | -31.0 Pips | ▼ |
Upcoming key events (GMT+8)
| Time (GMT+8) | Currency | Impact | Event |
| Thu 08:30 PM | USD | HIGH | Monthly Retail Trade (1-mth) |
| Fri 10:00 PM | USD | HIGH | Index of Consumer Sentiment |
What happened lately
In the latest trading session, the USDCHF currency pair experienced a decline of 0.48%, closing at 0.80500. The trading range for the day was between a high of 0.81140 and a low of 0.80320.
The movement in the USDCHF pair coincided with the release of the U.S. Producer Price Index (PPI) excluding Food and Energy sectors for the 12-month period. The actual figure came in at 4.7, which was below the consensus expectation of 5.2, but slightly above the previous reading of 4.6. This data release, categorized as having a high impact, may have influenced market sentiment, contributing to the observed price action.
Looking ahead, market participants will be closely monitoring upcoming economic events that could further impact the USDCHF pair. On Thursday at 08:30 PM GMT+8, the Monthly Retail Trade data for the U.S. is scheduled for release, and it is expected to have a high impact. Additionally, the Index of Consumer Sentiment is set to be released on Friday at 10:00 PM GMT+8, also with a high impact designation.
Overall, the recent decline in the USDCHF pair reflects a cautious market sentiment, potentially influenced by the softer-than-expected PPI data. Traders will likely remain attentive to the forthcoming economic indicators for further guidance on the pair’s direction.
What can we expect from USDCHF today?
USDCHF is experiencing a bearish daily outlook with a performance of -0.48%, closing at 0.80500. The pair has been trading below the 9-day EMA, indicating continued downward pressure.
📈 Bull Scenario A bullish scenario for USDCHF could be triggered if the pair manages to break above the daily pivot level of 0.80653. Further upward momentum could see the pair testing the first resistance level at 0.80987, with the next target at the second resistance level of 0.81473 if the bullish momentum persists. | 📉 Bear Scenario On the downside, a continuation of the bearish trend could be confirmed if USDCHF falls below the first support level at 0.80167. A further decline might lead the pair to test the second support level at 0.79833, especially if the price remains below the 9-day EMA and the stochastic indicator fails to provide sufficient upward momentum. |
Key levels to watch out:
| R3 | 0.81807 |
| R2 | 0.81473 |
| R1 | 0.80987 |
| Daily Pivot | 0.80653 |
| S1 | 0.80167 |
| S2 | 0.79833 |
| S3 | 0.79347 |