USDCHF on Thursday rose 0.32% to 0.9337. Looking bullish. What you need to know before the next trade.

USDCHF by TradingView

Performance after Thursday
Period	Pct	Chg	Momentum
Thursday	0.32%	30.2 Pips
Week to-date	1.04%	96.5 Pips
February	1.90%	174.2 Pips

Upcoming key events (London Time)

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What happened lately

📆 🇺🇸 USD Core Personal Consumption Expenditures (QoQ) in Q4 preliminary estimate exceed forecast and rose to 4.3% compared to previous figure 3.9% in Q3. Source
📆 ☢️ 🇺🇸 USD Gross Domestic Product Annualized in Q4 preliminary estimate below forecast and dropped to 2.7% compared to previous figure 2.9% in Q3. Source
🇺🇸 📆 USD In the week ending 18 February, the Initial Jobless Claims dropped to 192K compared to previous figure 195K (revised from 194K). Source
📆 🇺🇸 USD Chicago Fed National Activity Index in January exceed forecast and rose to 0.23 points compared to previous figure -0.46, revised from -0.49 points in December. Source
📆 🇨🇭 CHF ZEW Survey – Expectations in February below forecast and improved to -12.3 points compared to previous figure -40 points in January. Source
📆 🇺🇸 USD S&P Global Composite PMI in February preliminary estimate exceed forecast and rose to 50.2 points compared to previous figure 46.8 points in January. Source
📆 🇺🇸 USD S&P Global Services PMI in February preliminary estimate exceed forecast and rose to 50.5 points compared to previous figure 46.8 points in January. Source

What can we expect from USDCHF today?

USDCHF on Thursday rose 0.32% to 0.9337. Price is above 9-Day EMA while Stochastic is rising.

Updated daily direction for USDCHF looks bullish as the pair ended higher after Thursday trading session.

Looking ahead for the day, immediate upside resistance level is at 0.93622 (R1) while on the downside, we are looking at daily low of 0.9284 as an important support. Break below this level could weaken the current bullish momentum. USDCHF need to break on either side to indicate a short-term bias. A break above 0.9349 would suggest bullish bias after recent positive movement.

For the week to-date, take note that USDCHF is bullish as the pair continued to trade higher and is up by 1.04% over the past few days.

Key levels to watch out:

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Minutes of the Federal Open Market Committee, January 31–February 1, 2023 Source: Federal Reserve

Last updated: 11:39 pm UTC, 23-Feb 2023

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