USDCHF Analysis
| Performance after Tuesday | |||||
| Period | Pct | Chg | Momentum | ||
| Tuesday | -0.64% | -57.3 Pips |  |
||
| Week to-date | -1.32% | -119 Pips | |
||
| June | -1.32% | -119 Pips |  |
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Upcoming key events (London Time)
No major events for the day.
What happened lately
🇺🇸 U.S. Factory Orders (1-mth) in April unchanged at 0.7% compared to previous report in March. Source: Census Bureau 🇺🇸 U.S. Job Openings and Labor Turnover Survey (JOLTS) in April dropped to 8.059M compared to previous figure 8.355, revised from 8.488M in March Source: Bureau of Labor Statistics
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What can we expect from USDCHF today?
USDCHF on Tuesday dropped -0.64% to 0.88995. Price is below 9-Day EMA while Stochastic is falling in oversold zone.
Updated daily direction for USDCHF looks bearish as the pair posted lower in Tuesday trading session.
Looking ahead for the day, immediate support level is at S1 0.88649 with break below could see further selling pressure towards S2 at 0.88304. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.89720 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.88839 would indicate selling pressure.
For the week to-date, take note that USDCHF is bearish as the pair posted lower by -1.32%.
Key levels to watch out:
| R3 | 0.90411 |
| R2 | 0.90066 |
| R1 | 0.8953 |
| Daily Pivot | 0.89185 |
| S1 | 0.88649 |
| S2 | 0.88304 |
| S3 | 0.87768 |
