FundamentalOverviewThe USD performance hasbeen mixed in the past days but still on net negative despite the decreasingDecember rate cut odds. It looks like the stock market is what has been drivingall other markets.In fact, when the stockmarket had positive days, we’ve seen Treasury yields and the US dollar rising,but when stocks performed poorly, Treasury yields and the greenback gave backthe gains. The market might be thinking that a selloff in the stock market isgoing to weigh significantly on the economy, eventually requiring the Fed tocut more or more aggressively. The focus now is of courseon the Fed and the US data ahead of the December FOMC meeting. The marketpricing is now showing just a 42% chance of a cut in December, so the data willhave the final say. I don't think the SeptemberNFP on Thursday is going to matter much if it's soft given that it's old data,but a strong report might be taken as meaningful because the market could thinkthat conditions were already getting better in September before the two ratecuts. Therefore, I think theNovember NFP is going to have the final say, which will hopefully get releasedjust before the FOMC meeting in December (we won't get the November CPI intime). On the CHF side, nothinghas changed. The SNB left interest rates steady and kept everything unchangedat the last meeting. SNB’s members continue to repeat that the bar for negativerates is high, and Chairman Shlegel recently said that he expects inflation torise slightly in the next quarters. USDCHFTechnical Analysis – Daily TimeframeOn the daily chart, we cansee that USDCHF dropped all the way back to the 0.7882 level. The buyersstepped in there with a defined risk below the level to position for a rallyback into the 0.8073 level. The sellers, on the other hand, will want to seethe price breaking lower to increase the bearish bets into new lows.USDCHF TechnicalAnalysis – 4 hour TimeframeOn the 4 hour chart, we cansee that we have a minor resistance zone around the 0.7980 level. That’s wherewe can expect the sellers to step in with a defined risk above the resistanceto position for a drop back into the lows. The buyers, on the other hand, willlook for a break higher to increase the bullish bets into the 0.8073 level. USDCHF TechnicalAnalysis – 1 hour TimeframeOn the 1 hour chart, we cansee that we have a minor support zone around the 0.7925 level. If we get apullback, we can expect the buyers to step in there with a defined risk belowthe support to position for a rally into new highs. The sellers, on the otherhand, will look for a break lower to increase the bearish bets into the 0.7872level next. The red lines define the average daily range for today. UpcomingCatalystsToday we get the weekly ADP jobs data. Tomorrow, we have the FOMC meetingminutes. On Thursday, we get the September NFP report and maybe the US JoblessClaims data. On Friday, we conclude the week with the US Flash PMIs. This article was written by Giuseppe Dellamotta at investinglive.com.