USDCHF on Wednesday dropped -0.31% to 0.84619. What we know.

USDCHF Analysis

Performance after Wednesday
Period	Pct	Chg	Momentum
Wednesday	-0.31%	-26.2 Pips
Week to-date	-0.13%	-10.9 Pips
September	-0.08%	-7.1 Pips

Upcoming key events (London Time)

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What happened lately

🇺🇸 U.S. Factory Orders (1-mth) in July rose to 5%, compared to the previous figure of -3.3% in June. Source: Census Bureau
🇺🇸 U.S. Job Openings and Labor Turnover Survey (JOLTS) in July dropped to 7.673M compared to the revised June figure of 7.91M, down from 8.184M. Source: Bureau of Labor Statistics
🇺🇸 U.S. Job Openings and Labor Turnover Survey (JOLTS) in July dropped to 7.673M, compared to the previous figure of 7.91M revised from 8.184M in June. Source: Bureau of Labor Statistics
🇨🇭 Switzerland’s seasonally adjusted GDP for Q2 increased to 0.7% from the previous 0.5% in Q1. Source: State Secretariat for Economic Affairs
🇨🇭 Switzerland’s GDP (12-mth) in Q2 rose to 1.8%, compared to the previous figure of 0.6% in Q1. Source: State Secretariat for Economic Affairs
Switzerland’s Swiss CPI inflation rate (12-month) in August dropped to 1.1% from the previous figure of 1.3% in July. Source: Federal Statistical Office (FSO)
🇨🇭 The Swiss CPI Inflation Rate for August rose to 0% from -0.2% in July. Source: Federal Statistical Office (FSO)

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What can we expect from USDCHF today?

USDCHF on Wednesday dropped -0.31% to 0.84619. Price is below 9-Day EMA while Stochastic is rising.

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 0.84407 with break below could see further selling pressure towards S2 at 0.84194. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.85186 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.84584 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:

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