USDCHF Analysis
| Performance after Wednesday | |||||
| Period | Pct | Chg | Momentum | ||
| Wednesday | -1.27% | -108.7 Pips |  |
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| Week to-date | -1.44% | -123.1 Pips | |
||
| December | -3.7% | -323.9 Pips |  |
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Upcoming key events (London Time)
No major events for the day.
What happened lately
🇺🇸 U.S. Housing Price Index (1-mth) in October below forecast and dropped to 0.3% compared to previous figure 0.7, revised from 0.6% in September
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What can we expect from USDCHF today?
USDCHF on Wednesday dropped -1.27% to 0.84272. 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 Wednesday trading session.
Looking ahead for the day, immediate support level is at S1 0.8374 with break below could see further selling pressure towards S2 at 0.83208. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.85490 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.84083 would indicate selling pressure.
For the week to-date, take note that USDCHF is bearish as the pair posted lower by -1.44%.
Key levels to watch out:
| R3 | 0.86554 |
| R2 | 0.86022 |
| R1 | 0.85147 |
| Daily Pivot | 0.84615 |
| S1 | 0.8374 |
| S2 | 0.83208 |
| S3 | 0.82333 |
