USDCHF on Thursday dropped -0.74% to 0.90974. What we know.

USDCHF on Thursday dropped -0.74% to 0.90974. What we know.

USDCHF Analysis

Performance after Thursday
Period Pct Chg Momentum
Thursday -0.74% -67.5 Pips
Week to-date -0.39% -35.6 Pips
May -0.98% -90.5 Pips

Upcoming key events (London Time)

Fri 01:30 PM USD Average Hourly Earnings (1-mth)
Fri 01:30 PM USD Average Hourly Earnings (12-mth)
Fri 01:30 PM USD Nonfarm Payroll Employment

What happened lately

๐Ÿ‡บ๐Ÿ‡ธ U.S. Factory Orders (1-mth) in March rose to 1.6% compared to previous figure 1.2, revised from 1.4% in February Source: Census Bureau
๐Ÿ‡บ๐Ÿ‡ธ U.S. Unit Labor Costs in Q1 preliminary estimate rose to 0.4% compared to previous figure 0.4% Source: Bureau of Labor Statistics
๐Ÿ‡บ๐Ÿ‡ธ U.S. Challenger Job Cuts in April dropped to 64.789K compared to previous figure 90.309K in March
๐Ÿ‡จ๐Ÿ‡ญ Switzerland CPI Inflation Rate (1-mth) in April rose to 0.3% compared to previous figure 0% in March Source: Federal Statistical Office
๐Ÿ‡บ๐Ÿ‡ธ U.S. Fed Interest Rate Decision (Federal Funds Rate) unchanged at 5.5% compared to previous rate 5.5% Source: Federal Reserve
๐Ÿ‡บ๐Ÿ‡ธ U.S. Job Openings and Labor Turnover Survey (JOLTS) in March dropped to 8.488M compared to previous figure 8.813, revised from 8.756M in February Source: Bureau of Labor Statistics

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What can we expect from USDCHF today?

USDCHF on Thursday dropped -0.74% to 0.90974. 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 0.9068 with break below could see further selling pressure towards S2 at 0.90385. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.91733 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.90912 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 0.92322
R2 0.92027
R1 0.91501
Daily Pivot 0.91206
S1 0.9068
S2 0.90385
S3 0.89859

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