USDCHF on Thursday dropped -0.51% to 0.87745. What we know.

USDCHF Analysis

Performance after Thursday
Period	Pct	Chg	Momentum
Thursday	-0.51%	-45.3 Pips
Week to-date	-0.62%	-54.7 Pips
March	-0.79%	-70.2 Pips

Upcoming key events (London Time)

Fri 01:30 PM USD Nonfarm Payroll Employment

What happened lately

🇺🇸 In the week ending 02 March, Initial Unemployment Insurance Claims in U.S. was unchanged at 217K compared to previous figure 217K (revised from 215K) Source: Department of Labor
🇺🇸 U.S. Nonfarm Business Labor Productivity in Q4 unchanged at 3.2% compared to previous report in Q3. Source: Bureau of Labor Statistics
🇺🇸 U.S. Challenger Job Cuts in February rose to 84.638K compared to previous figure 82.307K in January
🇺🇸 U.S. Job Openings and Labor Turnover Survey (JOLTS) in January dropped to 8.863M compared to previous figure 9.026M in December Source: Bureau of Labor Statistics

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What can we expect from USDCHF today?

USDCHF on Thursday dropped -0.51% to 0.87745. 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 0.87519 with break below could see further selling pressure towards S2 at 0.87293. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.88233 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.87650 would indicate selling pressure.

For the week to-date, take note that USDCHF is bearish as the pair posted lower by -0.62%.

Key levels to watch out: