USDCHF on Wednesday dropped -0.28% to 0.9394. Pair in consolidation. What you need to know before the next trade.



Wednesday
Open High Low Close
0.94170 0.94283 0.93460 0.93943
Performance after Wednesday
Period Pct Chg Momentum
Wednesday -0.28% -26.7 Pips
Week to-date -0.05% -4.4 Pips
February 2.86% 261.9 Pips

Upcoming key events (London Time)

Fri 03:00 PM USD ISM Services PMI

What happened lately

📆 ☢️ 🇺🇸 USD ISM Manufacturing PMI in February below forecast and rose to 47.7 points compared to previous figure 47.4 points in January. Source
📆 🇺🇸 USD S&P Global Manufacturing PMI in February below forecast and dropped to 47.3 points compared to previous figure 47.8 points in January. Source
📆 🇨🇭 CHF Real Retail Sales (YoY) in January below forecast and improved to -2.2% compared to previous figure -3, revised from -2.8% in December. Source
📆 🇺🇸 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 Wednesday dropped -0.28% to 0.9394. 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 0.93508 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.9428 or trades above daily pivot 0.93895 while to the downside, the daily low of 0.9346 and 0.93508 (S1) as key support levels. USDCHF need to break on either side to indicate a short-term bias. A close below 0.9346 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:

R3 0.95154
R2 0.94718
R1 0.94331
Daily Pivot 0.93895
S1 0.93508
S2 0.93072
S3 0.92685

You might also be interested in:

Swiss retail trade turnover increased by 0.7% in January 2023 Source: Federal Statistical Office
Gross domestic product in the fourth quarter of 2022: Swiss economy stagnates Source: State Secretariat for Economic Affairs
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: 11:31 pm UTC, 01-Mar 2023

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この人の分析本当にすごい。 RENさん
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