USDCHF on Thursday dropped -0.15% to 0.90596. What we know.

USDCHF Analysis

Performance after Thursday
Thursday-0.15%-13.4 Pips
Week to-date0.42%38 Pips
November-0.43%-39 Pips

Upcoming key events (London Time)

Fri 12:30 PM USD Nonfarm Payroll Employment

What happened lately

🇺🇸 U.S. Factory Orders (1-mth) in September exceed forecast and rose to 2.8% compared to previous figure 1, revised from 1.2% in August Census Bureau
🇺🇸 U.S. Nonfarm Business Labor Productivity in Q3 preliminary estimate exceed forecast and rose to 4.7% compared to previous figure 3.5% in Q2 Bureau of Labor Statistics
🇺🇸 U.S. Challenger Job Cuts in October dropped to 36.836K compared to previous figure 47.457K in September
🇨🇭 Switzerland CPI Inflation Rate (1-mth) in October rose to 0.1% compared to previous figure -0.1% in September Federal Statistical Office
🇺🇸 U.S. Fed Interest Rate Decision (Federal Funds Rate) unchanged at 5.5% compared to previous rate 5.5% Federal Reserve
🇺🇸 U.S. Job Openings and Labor Turnover Survey (JOLTS) in September exceed forecast and rose to 9.553M compared to previous figure 9.497, revised from 9.61M in August Bureau of Labor Statistics


What can we expect from USDCHF today?

USDCHF on Thursday dropped -0.15% to 0.90596. Price is above 9-Day EMA while Stochastic is rising in overbought 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 0.90284 with break below could see further selling pressure towards S2 at 0.89971. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.90687 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.90173 would indicate selling pressure.

For the week to-date, take note that USDCHF is bullish as the pair continued to trade higher and is up by 0.42% over the past few days.

Key levels to watch out:

Daily Pivot0.90485

You might be interested in:

Construction Spending. Census Bureau
Consumer prices increased by 0.1% in October. Federal Statistical Office
Federal Reserve issues FOMC statement. Federal Reserve
Housing Vacancies and Homeownership. Census Bureau
Rental Vacancy Rate. Census Bureau
Swiss retail trade turnover rose in September 2023 by 0.7%. Federal Statistical Office

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