USDCHF on Wednesday dropped -0.35% to 0.90129. What we know.
|Performance after Wednesday|
|Week to-date||-0.9%||-81.9 Pips|
Upcoming key events (London Time)
Thu 01:30 PM USD CPI Inflation Rate (12-mth)
Fri 03:00 PM USD Michigan Index of Consumer Sentiment
What happened lately
🇺🇸 U.S. Producer Price Index excluding Food and Energy sectors (12-mth) in September rose to 2.7% compared to previous figure 2.5% (revised from 2.2%)
What can we expect from USDCHF today?
USDCHF on Wednesday dropped -0.35% to 0.90129. 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 S1 0.89913 with break below could see further selling pressure towards S2 at 0.89697. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.90545 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.90013 would indicate selling pressure.
For the week to-date, take note that USDCHF is bearish as the pair posted lower by -0.9%.
Key levels to watch out:
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