USDCHF Analysis
| Performance after Tuesday | |||||
| Period | Pct | Chg | Momentum | ||
| Tuesday | -0.75% | -67.2 Pips |  |
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| Week to-date | -0.75% | -67.2 Pips | |
||
| June | -2.14% | -193.1 Pips |  |
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Upcoming key events (London Time)
Thu 08:30 AM CHF SNB Interest Rate Decision (Policy Rate)
What happened lately
🇺🇸 U.S. Industrial Production (1-mth) in May rose to 0.9% compared to previous figure 0% in April 🇺🇸 U.S. Monthly Retail Trade (1-mth) in May rose to 0.1% compared to previous figure -0.2, revised from 0% in April Source: Census Bureau 🇺🇸 U.S. New York Empire State Manufacturing Index in June improved to -6 points compared to previous figure -15.6 points in May
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What can we expect from USDCHF today?
USDCHF on Tuesday dropped -0.75% to 0.88401. Price is below 9-Day EMA while Stochastic is falling.
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 0.88109 with break below could see further selling pressure towards S2 at 0.87818. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.89000 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.88263 would indicate selling pressure.
For the week to-date, take note that USDCHF is bearish as the pair posted lower by -0.75%.
Key levels to watch out:
| R3 | 0.89583 |
| R2 | 0.89292 |
| R1 | 0.88846 |
| Daily Pivot | 0.88555 |
| S1 | 0.88109 |
| S2 | 0.87818 |
| S3 | 0.87372 |
