USDCHF Analysis
| Performance after Thursday | |||
| Period | Pct | Chg | Momentum |
| Thursday | 0.45% | 36.0 Pips | ▲ |
| Week to-date | 0.02% | 2.0 Pips | ▲ |
| July | 0.06% | 5.0 Pips | ▲ |
Upcoming key events (GMT+8)
| Time (GMT+8) | Currency | Impact | Event |
| Fri 10:00 PM | USD | HIGH | Index of Consumer Sentiment |
What happened lately
The USDCHF currency pair experienced a rise of 0.45% on Thursday, closing at 0.80860. The day’s trading saw the pair reach a high of 0.80960 and a low of 0.80380, indicating a period of consolidation.
The recent price movement coincided with the release of the U.S. Monthly Retail Trade data, which reported a 0.2% increase for the month. This figure matched the consensus expectation and was a decrease from the previous month’s 0.9% growth. The alignment with market expectations suggests that the retail trade data may not have significantly influenced the USDCHF movement, leaving the pair to consolidate within its recent range.
Looking ahead, market participants will be closely monitoring the upcoming Index of Consumer Sentiment release scheduled for Friday at 10:00 PM GMT+8. This event is marked as having a high impact, and its outcome may provide further direction for the USDCHF pair.
Overall, the USDCHF market sentiment appears to be stable, with traders awaiting further economic indicators to drive significant moves. The consolidation phase reflects a cautious approach as market participants digest recent data and prepare for upcoming releases.
What can we expect from USDCHF today?
USDCHF is experiencing a mixed outlook today, with a daily performance of 0.45% and closing at 0.80860. Traders are watching for potential movements as the pair remains above the 9-day EMA and shows a rising stochastic.
📈 Bull Scenario If USDCHF continues its upward momentum, a break above the daily high of 0.80960 could trigger a bullish scenario. Traders should watch for resistance at R1 (0.81087) and potentially R2 (0.81313) if the bullish momentum strengthens. | 📉 Bear Scenario Conversely, a bearish scenario may unfold if USDCHF falls below the daily pivot at 0.80733. In this case, support levels to monitor are S1 (0.80507) and further down at S2 (0.80153) if selling pressure increases. |
Key levels to watch out:
| R3 | 0.81667 |
| R2 | 0.81313 |
| R1 | 0.81087 |
| Daily Pivot | 0.80733 |
| S1 | 0.80507 |
| S2 | 0.80153 |
| S3 | 0.79927 |