USDCHF Analysis
| Performance after Tuesday | |||||
| Period | Pct | Chg | Momentum | ||
| Tuesday | -0.19% | -17 Pips |  |
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| Week to-date | -0.2% | -17.7 Pips |  |
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| November | -2.93% | -266.2 Pips | |
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What can we expect from USDCHF today?
USDCHF on Tuesday dropped -0.19% to 0.88328. Price is below 9-Day EMA while Stochastic is falling in oversold zone.
Updated daily direction for USDCHF looks mixed as the pair is likely to consolidate above 0.88185 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.88484 or trades above daily pivot 0.88334. Break above could target R1 at 0.88478. While to the downside, we are looking at 0.88185 (S1) and daily low of 0.88191 as support levels. USDCHF need to break on either side to indicate a short-term bias. A close below 0.88191 would indicate selling pressure.
For the week to-date, take note that USDCHF is bearish as the pair posted lower by -0.2%.
Key levels to watch out:
| R3 | 0.88771 |
| R2 | 0.88627 |
| R1 | 0.88478 |
| Daily Pivot | 0.88334 |
| S1 | 0.88185 |
| S2 | 0.88041 |
| S3 | 0.87892 |
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Minutes of the Federal Open Market Committee, October 31-November 1, 2023. Federal Reserve
