USDCHF Analysis
| Performance after Tuesday | |||||
| Period | Pct | Chg | Momentum | ||
| Tuesday | -0.75% | -66 Pips |  |
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| Week to-date | -1.02% | -90.8 Pips | |
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| July | -1.8% | -160.7 Pips |  |
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Upcoming key events (London Time)
Wed 01:30 PM USD CPI Inflation Rate (1-mth) Wed 01:30 PM USD CPI Inflation Rate (12-mth) Wed 01:30 PM USD CPI Inflation Rate excluding Food and Energy sectors (1-mth) Wed 01:30 PM USD CPI Inflation Rate excluding Food and Energy sectors (12-mth) Thu 01:30 PM USD Producer Price Index excluding Food and Energy sectors (12-mth)
What happened lately
No major activities.
What can we expect from USDCHF today?
USDCHF on Tuesday dropped -0.75% to 0.87870. 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 0.87637 with break below could see further selling pressure towards S2 at 0.87403. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.88530 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.87850 would indicate selling pressure.
For the week to-date, take note that USDCHF is bearish as the pair posted lower by -1.02%.
Key levels to watch out:
| R3 | 0.88997 |
| R2 | 0.88763 |
| R1 | 0.88317 |
| Daily Pivot | 0.88083 |
| S1 | 0.87637 |
| S2 | 0.87403 |
| S3 | 0.86957 |
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