Daily technical and trading outlook – USD/CHF
|
Last Update At 18 Jun 2021 00:42GMT
Trend daily chart
Sideways
Daily Indicators
Rising
21 HR EMA
0.9149
55 HR EMA
0.9092
Trend hourly chart
Up
Hourly Indicators
Easing fm o/bot
13 HR RSI
75
14 HR DMI
+ve
Daily analysis
Resumption of recent up move.
Resistance
0.9264 - 61.8% r of 0.9472-0.8927.
0.9245 - Apr 15 high.
0.9195 - Apr 21 high.
Support
0.9134 - Thur's NY low.
0.9091 - Thur's Asian mornin high (now sup).
0.9053 - Prev. Jun's top (04, now sup).
USD/CHF - 0.9177.. Dlr extending Wed's post-FOMC rally on Fed's hawkish tilt n climbed to 0.9091 at Asian open. The intra-day rally accelerated at European open on SNB's dovish hold n later hit a 7-week high of 0.9187 in NY b4 easing.
On the bigger picture, DLR's impressive rise from Jan's near 6-year bottom at 0.8758 to as high as 0.9472 on the 1st day of Apr due to rally in U.S. yields suggests erratic fall FM 1.0344 (2016 peak) to retrace LT rise FM 2015 record low at 0.7360 has possibly ended n price is en route two 0.9551 (50% r). Having said that, DLR's decline to a 3-1/2 month 0.8927 low last Wed due to broad-based usd's weakness signals upmove fm 0.8758 has formed a top. Having said that, DLR's rally abv 0.9053 on Fed's hawkish tilt Wed suggests choppy trading abv 0.8758 would continue with an upside bias for gain to 0.9200, then 0.9284, being 50% n 62% respectively of 0.9472-0.8927. Only below 0.9000 aborts, n risks 0.8927.
Today, DLR's impressive rise FM Jun's 0.8927 low to 0.9187 Thur suggests MT fall FM 0.9472 has possibly ended n as current price is abv 21-hr n 55-hr emas , upside bias remains for gain to 0.9230/40, reckon 0.9264 should hold on 1st testing. Only a daily close below 0.9134 may risk retracement two 0.9077.
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.