USDCHF on Wednesday dropped -0.56% to 0.91712. What we know.

USDCHF on Wednesday dropped -0.56% to 0.91712. What we know.

USDCHF Analysis

Performance after Wednesday
Period Pct Chg Momentum
Wednesday -0.56% -51.7 Pips
Week to-date -0.93% -85.8 Pips
March -2.66% -251 Pips

Upcoming key events (London Time)

Thu 08:30 AM CHF SNB Interest Rate Decision (Policy Rate)
Thu 08:30 AM CHF SNB Monetary Policy Assessment
Fri 12:30 PM USD Durable Goods Orders
Fri 12:30 PM USD Nondefense Capital Goods excluding Aircraft

What happened lately

📆 ☢️ 🇺🇸 USD Fed Interest Rate Decision (Federal Funds Rate) rose to 5% compared to previous rate 4.75%. Source

USDCHF Chart by TradingView

What can we expect from USDCHF today?

USDCHF on Wednesday dropped -0.56% to 0.91712. Price is below 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 0.91289 (S1) with break below could see further selling pressure towards 0.90865 (S2). To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.92458 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.91450 would indicate selling pressure.

For the week to-date, take note that USDCHF is mixed as the current price action remain uncertain due to trader indecisiveness.

Key levels to watch out:

R3 0.93305
R2 0.92881
R1 0.92297
Daily Pivot 0.91873
S1 0.91289
S2 0.90865
S3 0.90281

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Federal Reserve issues FOMC statement Source: Federal Reserve
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