USDCHF on Monday dropped -0.12% to 0.9229. Downside ahead. How it happened.



Monday
Open High Low Close
0.92480 0.92600 0.92150 0.92290
Performance after Monday
Period Pct Chg Momentum
Monday -0.12% -11.2 Pips
Week to-date -0.12% -11.2 Pips
February 0.76% 69.4 Pips

Upcoming key events (London Time)

Wed 07:00 PM USD FOMC Minutes

What happened lately

No major activities.


What can we expect from USDCHF today?

USDCHF on Monday dropped -0.12% to 0.9229. Price is below 9-Day EMA while Stochastic is falling.

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

Looking ahead for the day, immediate support level is at 0.92093 (S1) with break below could see further selling pressure towards 0.91897 (S2). To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.9260 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. USDCHF need to break on either side to indicate a short-term bias. A close below 0.9215 would indicate selling pressure.

For the week to-date, take note that USDCHF is mixed as the current price action remain uncertain due to trader indecisiveness.

Key levels to watch out:

R3 0.92993
R2 0.92797
R1 0.92543
Daily Pivot 0.92347
S1 0.92093
S2 0.91897
S3 0.91643

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Last updated: 11:38 pm UTC, 20-Feb 2023

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