USDCHF Analysis
| Performance after Thursday | |||||
| Period | Pct | Chg | Momentum | ||
| Thursday | 0.37% | 32.4 Pips |  |
||
| Week to-date | -1.03% | -92.7 Pips |  |
||
| July | -1.4% | -125.8 Pips |  |
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Upcoming key events (London Time)
No major events for the day.
What happened lately
The U.S. Manufacturing Business Outlook Survey in July rose to 13.9 points from the previous figure of 1.3 points in June. Source: Philadelphia Fed 🇺🇸 U.S. Industrial Production (1-mth) in June dropped to 0.9% compared to previous figure 1% (revised from 0.9%)
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What can we expect from USDCHF today?
USDCHF on Thursday rose 0.37% to 0.88762. Price is below 9-Day EMA while Stochastic is falling.
Updated daily direction for USDCHF looks bullish as the pair ended higher after Thursday trading session.
Looking ahead for the day, immediate upside resistance level is R1 at 0.88959 with break above could target R2 at 0.89157 or figure level area. While towards the downside, we are looking at daily low of 0.88220 as an important support. Break below this level could weaken the current bullish momentum. A break above 0.88787 may suggest continuation after recent positive movement.
For the week to-date, take note that USDCHF is bearish as the pair posted lower by -1.03%.
Key levels to watch out:
| R3 | 0.89526 |
| R2 | 0.89157 |
| R1 | 0.88959 |
| Daily Pivot | 0.8859 |
| S1 | 0.88392 |
| S2 | 0.88023 |
| S3 | 0.87825 |
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