USDCHF on Thursday dropped -0.7% to 0.87960. What we know.

USDCHF Analysis

Performance after Thursday
Period	Pct	Chg	Momentum
Thursday	-0.7%	-62.1 Pips
Week to-date	0.57%	50 Pips
February	2.12%	182.6 Pips

Upcoming key events (London Time)

Fri 01:30 PM USD PPI excluding Food and Energy sectors (12-mth)

What happened lately

🇺🇸 U.S. Industrial Production (1-mth) in January dropped to -0.1% compared to previous figure 0.1%
🇺🇸 U.S. Philadelphia Fed Manufacturing Survey in February rose to 5.2 points compared to previous figure -10.6 points in January
🇺🇸 U.S. Monthly Retail Trade (1-mth) in January dropped to -0.8% compared to previous figure 0.4, revised from 0.6% in December Source: Census Bureau
🇺🇸 In the week ending 10 February, U.S. Initial Unemployment Insurance Claims dropped to 212K compared to previous figure 220K (revised from 218K) Source: Department of Labor
🇺🇸 U.S. New York Empire State Manufacturing Index in February improved to -2.4 points compared to previous figure -43.7 points in January

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What can we expect from USDCHF today?

USDCHF on Thursday dropped -0.7% to 0.87960. Price is above 9-Day EMA while Stochastic is falling in overbought zone.

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 0.87663 with break below could see further selling pressure towards S2 at 0.87365. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.88582 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.87825 would indicate selling pressure.

For the week to-date, take note that USDCHF is bullish as the pair continued to trade higher and is up by 0.57% over the past few days.

Key levels to watch out: