Daily technical and trading outlook - USD/CHF
|
Last Update At 24 Nov 2020 00:48GMT
Trend Daily Chart
Sideways
Daily Indicators
Neutral
21 HR EMA
0.9115
55 HR EMA
0.9111
Trend Hourly Chart
Near term up
Hourly Indicators
Rising
13 HR RSI
8
14 HR DMI
+ve
Daily Analysis
Consolidation with upside bias
Resistance
0.9192 - Nov 11 high
0.9175 - Nov 10 high
0.9151 - Last week's high (Mon)
Support
0.9077 - Mon's low
0.9060 - Nov 06 high (now sup)
0.9031 - Oct's low (21)
USD/CHF - 0.9125.. Although dlr met renewed selling at 0.9114 in NZ on Mon n fell to a 13-day low at 0.9077 in NY morning, price then jumped to 0.9147 after release of robust US PMIs b4 retreating to 0.9119 on profit-taking.
On the bigger picture, despite dlr's rally fm Sep's bottom at 0.8999 to 0.9296 in late Sep, subsequent erratic fall to 0.9031 n Nov's brief break of 0.8999 to a fresh 5-1/2 year 0.8983 low in post-NFP NY due to usd's broad-based weakness signals LT downtrend fm 2016 peak at 1.0344 has once again resumed. However, dlr's rally to 0.9192 in Nov suggests temp. low is made n subsequent retreat to 0.9089 last week would bring range trading. As long as 0.9030/40 holds , re-test of 0.9192 may be seen but abv 0.9207 (Nov high) needed for stronger retrace. to 0.9296. On the downside, daily close below 0.9031 (Oct low) signals recovery has ended n yields re-test of 0.8983, below extend twd 0.8900 in Dec.
Today, despite dlr's resumption of decline fm 0.9192 to 0.9077 y'day, subsequent jump to 0.9147 suggests temporary low is made n range trading would be seen b4 re-test of 0.9192, however, 'bearish divergences' should cap price below Nov's 0.9207 peak today. Below 0.9077 risks 0.9060, then 0.9030/35 later.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.