USDCHF on Wednesday dropped -0.25% to 0.85051. What we know.

USDCHF Analysis

Performance after Wednesday
Period	Pct	Chg	Momentum
Wednesday	-0.25%	-21.2 Pips
Week to-date	-1.97%	-170.7 Pips
August	-3.14%	-276 Pips

Upcoming key events (London Time)

Thu 03:00 PM USD Jackson Hole Symposium
Fri 03:00 PM USD Federal Reserve Chair Jerome Powell speech (Jackson Hole Symposium)

What happened lately

No major activities.

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What can we expect from USDCHF today?

USDCHF on Wednesday dropped -0.25% to 0.85051. Price is below 9-Day EMA while Stochastic is falling.

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 0.84794 with break below could see further selling pressure towards S2 at 0.84537. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.85614 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.84947 would indicate selling pressure.

For the week to-date, take note that USDCHF is bearish as the pair posted lower by -1.97%.

Key levels to watch out:

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