USDCHF Analysis
| Performance after Wednesday | |||||
| Period | Pct | Chg | Momentum | ||
| Wednesday | -0.23% | -19.8 Pips |  |
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| Week to-date | -0.7% | -59.7 Pips |  |
||
| August | -4.2% | -368.5 Pips | |
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Upcoming key events (London Time)
Thu 01:30 PM USD GDP annual rate Fri 01:30 PM USD PCE Price Index (excluding food and energy) (1-mth) Fri 01:30 PM USD PCE Price Index (excluding food and energy) (12-mth)
What happened lately
The Switzerland ZEW Financial Market Survey dropped to -3.4 points in August from 9.4 points in July. Source: ZEW 🇺🇸 U.S. House Price Index (1-mth) in June dropped to -0.1% from 0% in May. Source: FHFA
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What can we expect from USDCHF today?
USDCHF on Wednesday dropped -0.23% to 0.84135. Price is below 9-Day EMA while Stochastic is falling.
Updated daily direction for USDCHF looks mixed as the pair is likely to consolidate above 0.83983 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.84520 or trades above daily pivot 0.84252. Break above could target R1 at 0.84403. While to the downside, we are looking at 0.83983 (S1) and daily low of 0.84100 as support levels. USDCHF need to break on either side to indicate a short-term bias. A close below 0.84100 would indicate selling pressure.
For the week to-date, take note that USDCHF is bearish as the pair posted lower by -0.7%.
Key levels to watch out:
| R3 | 0.84823 |
| R2 | 0.84672 |
| R1 | 0.84403 |
| Daily Pivot | 0.84252 |
| S1 | 0.83983 |
| S2 | 0.83832 |
| S3 | 0.83563 |
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