USDCHF on Thursday dropped -0.28% to 0.84422. What we know.

USDCHF Analysis

Performance after Thursday
Period	Pct	Chg	Momentum
Thursday	-0.28%	-23.8 Pips
Week to-date	-0.37%	-31 Pips
September	-0.32%	-27.5 Pips

Upcoming key events (London Time)

Fri 01:30 PM USD Nonfarm Payroll Employment

What happened lately

🇺🇸 U.S. Unit Labor Costs in Q2 decreased to 0.4% from 0.9% in Q1. Source: Bureau of Labor Statistics
🇺🇸 U.S. Nonfarm Business Labor Productivity in Q2 rose to 2.5%, up from 2.3% in Q1. Source: Bureau of Labor Statistics
🇺🇸 In the week ending 31 August, U.S. Initial Unemployment Insurance Claims dropped to 227K compared to previous figure 231K Source: Department of Labor
🇺🇸 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 previous figure of 7.91M revised from 8.184M in June. Source: Bureau of Labor Statistics

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What can we expect from USDCHF today?

USDCHF on Thursday dropped -0.28% to 0.84422. Price is below 9-Day EMA while Stochastic is falling.

Updated daily direction for USDCHF looks bearish as the pair posted lower in Thursday trading session.

Looking ahead for the day, immediate support level is at S1 0.8419 with break below could see further selling pressure towards S2 at 0.83959. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.84907 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.84317 would indicate selling pressure.

For the week to-date, take note that USDCHF is bearish as the pair posted lower by -0.37%.

Key levels to watch out:

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