USDCHF on Wednesday dropped -0.33% to 0.87335. What we know.

USDCHF Analysis

Performance after Wednesday
PeriodPctChgMomentum
Wednesday-0.33%-28.8 Pips
Week to-date-1.01%-88.8 Pips
November-4.01%-365.2 Pips

Upcoming key events (London Time)

Thu 01:30 PM USD Personal Consumption Expenditures Price Index (12-mth)
Fri 08:00 AM CHF GDP (seasonally adjusted) (3-mth)
Fri 04:00 PM USD Federal Reserve Chair Jerome Powell speech

What happened lately

🇨🇭 Switzerland ZEW Survey – Expectations in November below forecast and improved to -29.6 points compared to previous figure -37.8 points in October Source: ZEW
🇺🇸 U.S. Housing Price Index (1-mth) in September unchanged at 0.6% compared to previous report in August.

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What can we expect from USDCHF today?

USDCHF on Wednesday dropped -0.33% to 0.87335. 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 Wednesday trading session.

Looking ahead for the day, immediate support level is at S1 0.87075 with break below could see further selling pressure towards S2 at 0.86815. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.87839 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.87197 would indicate selling pressure.

For the week to-date, take note that USDCHF is bearish as the pair posted lower by -1.01%.

Key levels to watch out:

R30.88359
R20.88099
R10.87717
Daily Pivot0.87457
S10.87075
S20.86815
S30.86433

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