USDCHF on Wednesday dropped -0.28% to 0.90128. What we know.

USDCHF Analysis

Performance after Wednesday
Period	Pct	Chg	Momentum
Wednesday	-0.28%	-25.5 Pips
Week to-date	0.12%	10.8 Pips
July	0.11%	10 Pips

Upcoming key events (London Time)

Thu 07:30 AM CHF CPI Inflation Rate (12-mth)
Fri 01:30 PM USD Nonfarm Payroll Employment

What happened lately

🇺🇸 U.S. Factory Orders (1-mth) in May dropped to -0.5% compared to previous figure 0.4, revised from 0.7% in April Source: Census Bureau
🇺🇸 In the week ending 29 June, U.S. Initial Unemployment Insurance Claims rose to 238K compared to previous figure 233K Source: Department of Labor
🇺🇸 U.S. Challenger Job Cuts in June dropped to 48.786K compared to previous figure 63.816K in May

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What can we expect from USDCHF today?

USDCHF on Wednesday dropped -0.28% to 0.90128. Price is above 9-Day EMA while Stochastic is falling.

Updated daily direction for USDCHF looks bearish as the pair posted lower in Wednesday trading session.

Looking ahead for the day, immediate support level is at S1 0.89817 with break below could see further selling pressure towards S2 at 0.89507. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.90504 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.89850 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: