USDCHF on Wednesday dropped -0.58% to 0.89239. What we know.
|Performance after Wednesday|
|Week to-date||-0.15%||-13 Pips|
Upcoming key events (London Time)
Thu 08:30 AM CHF SNB Interest Rate Decision (Policy Rate)
Thu 03:00 PM USD Federal Reserve Chair Jerome Powell testifies
What happened lately
🇺🇸 U.S. Building Permits (1-mth) in May exceed forecast and rose to 1.491M compared to previous figure 1.417, revised from 1.416M in April Census Bureau
What can we expect from USDCHF today?
USDCHF on Wednesday dropped -0.58% to 0.89239. Price is below 9-Day EMA while Stochastic is rising 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 0.88963 with break below could see further selling pressure towards S2 at 0.88686. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.89978 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.89194 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:
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