USDCHF on Thursday dropped -0.74% to 0.89199. What we know.
|Performance after Thursday|
|Week to-date||-1.13%||-102 Pips|
Upcoming key events (London Time)
Fri 01:00 AM USD President Joe Biden speech
What happened lately
🇺🇸 In the week ending 14 October, U.S. Initial Unemployment Insurance Claims dropped to 198K compared to previous figure 209K Department of Labor
🇺🇸 U.S. Philadelphia Fed Manufacturing Survey in October exceed forecast and improved to -9 points compared to previous figure -13.5 points in September
🇺🇸 U.S. Building Permits (1-mth) in September dropped to 1.475M compared to previous figure 1.541M (revised from 1.543M) Census Bureau
What can we expect from USDCHF today?
USDCHF on Thursday dropped -0.74% to 0.89199. 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 Thursday trading session.
Looking ahead for the day, immediate support level is at S1 0.88814 with break below could see further selling pressure towards S2 at 0.8843. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.90017 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.89031 would indicate selling pressure.
For the week to-date, take note that USDCHF is bearish as the pair posted lower by -1.13%.
Key levels to watch out:
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