USDCHF on Monday dropped -0.45% to 0.9356. Pair in consolidation. What you need to know before the next trade.

USDCHF by TradingView

Performance after Monday
Period	Pct	Chg	Momentum
Monday	-0.45%	-42.3 Pips
Week to-date	-0.45%	-42.3 Pips
February	2.15%	196.8 Pips

Upcoming key events (London Time)

Tue 08:00 AM CHF Gross Domestic Product s.a. (QoQ)
Wed 03:00 PM USD ISM Manufacturing PMI

What happened lately

📆 🇺🇸 USD Pending Home Sales (MoM) in January exceed forecast and rose to 8.1% compared to previous figure 1.1, revised from 2.5% in December. Source
📆 ☢️ 🇺🇸 USD Durable Goods Orders in January exceed forecast and dropped to -4.5% compared to previous figure 5.1, revised from 5.6% in December. Source

What can we expect from USDCHF today?

USDCHF on Monday dropped -0.45% to 0.9356. Price is above 9-Day EMA while Stochastic is falling but in overbought zone.

Updated daily direction for USDCHF looks mixed as the pair is likely to consolidate above 0.93219 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.9429 or trades above daily pivot 0.93755 while to the downside, the daily low of 0.9341 and 0.93219 (S1) as key support levels. USDCHF need to break on either side to indicate a short-term bias. A close below 0.9341 would indicate selling pressure.

For the week to-date, take note that USDCHF is mixed as the current price action remain uncertain due to trader indecisiveness.

Key levels to watch out:

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Advance Monthly Manufacturers’ Shipments, Inventories, and Orders Source: Census Bureau

Last updated: 11:38 pm UTC, 27-Feb 2023

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