USDCHF Analysis
| Performance after Tuesday | |||||
| Period | Pct | Chg | Momentum | ||
| Tuesday | -1.43% | -128.8 Pips |  |
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| Week to-date | -1.42% | -127.9 Pips | |
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| November | -2.33% | -211.7 Pips |  |
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Upcoming key events (London Time)
Wed 01:30 PM USD PPI excluding Food and Energy sectors (12-mth) Wed 01:30 PM USD Monthly Retail Trade (1-mth)
What happened lately
🇺🇸 U.S. CPI Inflation Rate excluding Food and Energy sectors (1-mth) in October below forecast and dropped to 0.2% compared to previous figure 0.3% in September Bureau of Labor Statistics 🇺🇸 U.S. CPI Inflation Rate (12-mth) in October below forecast and dropped to 3.2% compared to previous figure 3.7% in September Bureau of Labor Statistics 🇺🇸 U.S. CPI Inflation Rate (1-mth) in October below forecast and dropped to 0% compared to previous figure 0.4% in September Bureau of Labor Statistics 🇺🇸 U.S. CPI Inflation Rate excluding Food and Energy sectors (12-mth) in October below forecast and dropped to 4% compared to previous figure 4.1% in September Bureau of Labor Statistics
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What can we expect from USDCHF today?
USDCHF on Tuesday dropped -1.43% to 0.88870. Price is below 9-Day EMA while Stochastic is falling.
Updated daily direction for USDCHF looks bearish as the pair posted lower in Tuesday trading session.
Looking ahead for the day, immediate support level is at S1 0.88341 with break below could see further selling pressure towards S2 at 0.87811. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.90272 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.88777 would indicate selling pressure.
For the week to-date, take note that USDCHF is bearish as the pair posted lower by -1.42%.
Key levels to watch out:
| R3 | 0.91331 |
| R2 | 0.90801 |
| R1 | 0.89836 |
| Daily Pivot | 0.89306 |
| S1 | 0.88341 |
| S2 | 0.87811 |
| S3 | 0.86846 |
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Business Formation Statistics. Census Bureau
Producer and Import Price Index rose by 0.2% in October. Federal Statistical Office
