USDCHF Analysis
| Performance after Thursday | |||||
| Period | Pct | Chg | Momentum | ||
| Thursday | -0.51% | -44.4 Pips |  |
||
| Week to-date | -1.42% | -125.2 Pips |  |
||
| December | -0.91% | -79.8 Pips | |
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Upcoming key events (London Time)
No major events for the day.
What happened lately
🇺🇸 In the week ending 09 December, U.S. Initial Unemployment Insurance Claims dropped to 202K compared to previous figure 220K Source: Department of Labor 🇺🇸 U.S. Monthly Retail Trade (1-mth) in November exceed forecast and rose to 0.3% compared to previous figure -0.2, revised from -0.1% in October Source: Census Bureau
🇨🇭 Switzerland SNB Interest Rate Decision (Policy Rate) unchanged at 1.75% compared to previous rate 1.75% Source: Swiss National Bank 🇺🇸 U.S. Interest Rate Projections – Longer unchanged at 2.5% compared to previous rate 2.5% 🇺🇸 U.S. Interest Rate Projections – 3rd year unchanged at 2.9% compared to previous rate 2.9% 🇺🇸 U.S. Interest Rate Projections – 2nd year dropped to 3.6% compared to previous rate 3.9% 🇺🇸 U.S. Fed Interest Rate Decision (Federal Funds Rate) unchanged at 5.5% compared to previous rate 5.5% Source: Federal Reserve 🇺🇸 U.S. Interest Rate Projections dropped to 5.4% compared to previous rate 5.6% 🇺🇸 U.S. Interest Rate Projections – 1st year dropped to 4.6% compared to previous rate 5.1% 🇺🇸 U.S. Producer Price Index (12-mth) in November below forecast and dropped to 0.9% compared to previous figure 1.2, revised from 1.3% in October 🇺🇸 U.S. Producer Price Index (1-mth) in November below forecast and rose to 0% compared to previous figure -0.4, revised from -0.5% in October
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What can we expect from USDCHF today?
USDCHF on Thursday dropped -0.51% to 0.86714. Price is below 9-Day EMA while Stochastic is falling.
Updated daily direction for USDCHF looks bearish as the pair posted lower in Thursday trading session.
Looking ahead for the day, immediate support level is at S1 0.86235 with break below could see further selling pressure towards S2 at 0.85756. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.87319 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.86298 would indicate selling pressure.
For the week to-date, take note that USDCHF is mixed as compared to the prior week.
Key levels to watch out:
| R3 | 0.88277 |
| R2 | 0.87798 |
| R1 | 0.87256 |
| Daily Pivot | 0.86777 |
| S1 | 0.86235 |
| S2 | 0.85756 |
| S3 | 0.85214 |
