USDCHF on Tuesday rose 0.68% to 0.9421. End February up by 2.86% or 198.4 pips higher. Pair in consolidation. What you need to know before the next trade.

USDCHF by TradingView

Performance after Tuesday
Period	Pct	Chg	Momentum
Tuesday	0.68%	63.5 Pips
Week to-date	0.12%	11.6 Pips
February	2.86%	198.4 Pips

Upcoming key events (London Time)

Wed 03:00 PM USD ISM Manufacturing PMI

What happened lately

📆 🇺🇸 USD Chicago Purchasing Managers’ Index in February below forecast and dropped to 43.6 points compared to previous figure 44.3 points in January. Source
📆 🇨🇭 CHF KOF Leading Indicator in February below forecast and rose to 100 points compared to previous figure 97.4, revised from 97.2 points in January. Source
📆 ☢️ 🇨🇭 CHF Gross Domestic Product s.a. (QoQ) in Q4 below forecast and dropped to 0% compared to previous figure 0.2, revised from 0.2% in Q3. Source
📆 🇺🇸 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 Tuesday rose 0.68% to 0.9421. 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 0.93650 (S1).

Looking ahead today, we are looking at 0.9429 or 0.94501 (R1) as important resistance level while to the downside, the daily low of 0.9338 and 0.93650 (S1) as key support levels. USDCHF need to break on either side to indicate a short-term bias. A break above 0.9423 would suggest bullish bias after recent positive movement.

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

USDCHF ended month of February trading session up by 2.86% or 198.4 pips higher.

Key levels to watch out:

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Minutes of the Board’s discount rate meetings from January 23 and February 1, 2023 Source: Federal Reserve
Advance Retail Inventories Source: Census Bureau
Advance U.S. International Trade in Goods Source: Census Bureau
Advance Wholesale Inventories Source: Census Bureau
Advance Monthly Manufacturers’ Shipments, Inventories, and Orders Source: Census Bureau

Last updated: 02:45 am UTC, 01-Mar 2023

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