Forex

USDCHF on Wednesday dropped -0.04% to 0.87451. Pair in consolidation. What we know.

USDCHF on Wednesday dropped -0.04% to 0.87451. Pair in consolidation. What we know.
USDCHF on Wednesday dropped -0.04% to 0.87451.  Pair in consolidation. What we know.

USDCHF Analysis

Performance after Wednesday
Period Pct Chg Momentum
Wednesday -0.04% -3.5 Pips
Week to-date 0.65% 56.5 Pips
December -0.07% -6 Pips

Upcoming key events (London Time)

Fri 01:30 PM USD Nonfarm Payroll Employment
Fri 03:00 PM USD Michigan Index of Consumer Sentiment

What happened lately

?? U.S. Job Openings and Labor Turnover Survey (JOLTS) in October below forecast and dropped to 8.733M compared to previous figure 9.35, revised from 9.553M in September Source: Bureau of Labor Statistics

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What can we expect from USDCHF today?

USDCHF on Wednesday dropped -0.04% to 0.87451. Price is below 9-Day EMA while Stochastic is rising.

Updated daily direction for USDCHF looks mixed as the pair is likely to consolidate above 0.87291 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.87598 or trades above daily pivot 0.87445. Break above could target R1 at 0.87604. While to the downside, we are looking at 0.87291 (S1) and daily low of 0.87285 as support levels. USDCHF need to break on either side to indicate a short-term bias. A close below 0.87285 would indicate selling pressure.

For the week to-date, take note that USDCHF is mixed as compared to the prior week.

Key levels to watch out:

R3 0.87917
R2 0.87758
R1 0.87604
Daily Pivot 0.87445
S1 0.87291
S2 0.87132
S3 0.86978

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