USDCHF on Monday dropped -0.56% to 0.88700. What we know.
|Performance after Monday|
|Week to-date||-0.56%||-50 Pips|
Upcoming key events (London Time)
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What happened lately
🇺🇸 Chicago Fed National Activity Index in March unchanged at -0.19 points compared to previous report in February.
What can we expect from USDCHF today?
USDCHF on Monday dropped -0.56% to 0.88700. Price is below 9-Day EMA while Stochastic is falling.
Updated daily direction for USDCHF looks bearish as the pair posted lower in Monday trading session.
Looking ahead for the day, immediate support level is at S1 0.88507 with break below could see further selling pressure towards S2 at 0.88313. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.89280 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.88700 would indicate selling pressure.
For the week to-date, take note that USDCHF is bearish as the pair posted lower by -0.56%.
Key levels to watch out:
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