USDCHF on Thursday rose 0.66% to 0.84720. What we know.

USDCHF Analysis

Performance after Thursday
Period	Pct	Chg	Momentum
Thursday	0.66%	55.2 Pips
Week to-date	-0.01%	-1.2 Pips
August	-3.52%	-309.4 Pips

Upcoming key events (London Time)

Fri 01:30 PM USD PCE Price Index, excluding food and energy (1-mth)
Fri 01:30 PM USD PCE Price Index, excluding food and energy (12-mth)

What happened lately

🇺🇸 U.S. Pending Home Sales (1-mth) in July dropped to -5.5%, compared to a previous figure of 4.8% in June.
🇺🇸 The U.S. GDP annual rate in the Q2 flash estimate rose to 3%, compared to the previous figure of 2.8% in Q1. Source: Bureau of Economic Analysis
🇺🇸 The U.S. GDP Price Index (Quarterly) rose to 2.5% in Q2 flash estimate, up from 2.3% in Q1. Source: Bureau of Economic Analysis
The U.S. Q2 flash estimate for PCE excluding food and energy prices (3-month) dropped to 2.8%, compared to the previous figure of 2.9% in Q1. Source: Bureau of Economic Analysis
🇺🇸 The U.S. PCE Price (3-month) for Q2’s flash estimate dropped to 2.5%, down from the previous 2.6% in Q1. Source: Bureau of Economic Analysis
🇺🇸 In the week ending 24 August, U.S. Initial Unemployment Insurance Claims dropped to 231K compared to previous figure 232K Source: Department of Labor
The Switzerland ZEW Financial Market Survey dropped to -3.4 points in August from 9.4 points in July. Source: ZEW

Latest from X (Twitter)

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What can we expect from USDCHF today?

USDCHF on Thursday rose 0.66% to 0.84720. Price is below 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 R1 at 0.85103 with break above could target R2 at 0.85487 or figure level area. While towards the downside, we are looking at daily low of 0.83998 as an important support. Break below this level could weaken the current bullish momentum. A break above 0.84934 may suggest continuation after recent positive movement.

For the week to-date, take note that USDCHF is mixed as compared to the prior week.

Key levels to watch out:

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