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USDCHF on Wednesday dropped -1.47% to 0.9772. Buyers beware. What happened.
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Wednesday
Open High Low Close
0.99177 0.99658 0.97424 0.97724
Performance after Wednesday
Period Pct Chg Momentum
Wednesday -1.47% -145.6 Pips
Week to-date -0.42% -41.5 Pips
September -0.01% -0.6 Pips

Upcoming key events (London Time)

Thu 01:30 PM USD Gross Domestic Product Annualized

What happened lately

📆 🇺🇸 USD Pending Home Sales (MoM) in August exceed forecast and dropped to -2% compared to previous figure -0.6, revised from -1% in July. Source
📆 🇨🇭 CHF ZEW Survey – Expectations in September exceed forecast and dropped to -69.2 points compared to previous figure -56.3 points in August. Source
📆 🇺🇸 USD Housing Price Index (MoM) in July below forecast and dropped to -0.6% compared to previous figure 0.1% in June. Source
📆 🇺🇸 USD S&P/Case-Shiller Home Price Indices (YoY) in July below forecast and dropped to 16.1% compared to previous figure 18.7, revised from 18.6% in June. Source
📆 ☢️ 🇺🇸 USD Durable Goods Orders in August below forecast and dropped to -0.2% compared to previous figure -0.1, revised from 0% in July. Source
📆 🇺🇸 USD Chicago Fed National Activity Index in August below forecast and dropped to 0 points compared to previous figure 0.29, revised from 0.27 points in July. Source


What can we expect from USDCHF today?

USDCHF on Wednesday dropped -1.47% to 0.9772. Price is below 9-Day EMA while Stochastic is falling but in overbought 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 0.96879 (S1) with break below could see further selling pressure towards 0.96035 (S2). To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.9966 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. USDCHF need to break on either side to indicate a short-term bias. A close below 0.9742 would indicate selling pressure.

For the week to-date, take note that USDCHF is mixed as the current price action remain uncertain due to trader indecisiveness.

Key levels to watch out:

R3 1.01347
R2 1.00503
R1 0.99113
Daily Pivot 0.98269
S1 0.96879
S2 0.96035
S3 0.94645

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Last updated: 12:37 am UTC, 29-Sep 2022

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