Daily technical and trading outlook – USD/CHF
|
Last Update At 28 Jul 2021 00:53GMT.
Trend daily chart
Sideways
Daily Indicators
Turning down
21 HR EMA
0.9150
55 HR EMA
0.9168
Trend hourly chart
Near term down
Hourly Indicators
Rising fm o/s
13 HR RSI
48
14 HR DMI
-ve
Daily analysis
Consolidation with a downside bias.
Resistance
0.9274 - Jul's high (2nd).
0.9232 - Jul 20 high.
0.9186 - Tue's high.
Support
0.9130 - Tue's low.
0.9118 - Jul's low (15th).
0.9053 - Jun 04 high (now sup).
USD/CHF - 0.9149.. Although DLR found renewed buying at 0.9149 at Asian open Tue n rose to 0.9186 in Europe on rebound in eur/chf cross, price quickly erased intra-day gain n tumbled in NY to 0.9130 on usd's broad-based weakness.
On the bigger picture, dlr's impressive rise fm 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 to 0.9551 (50% r). Having said that, DLR's decline to a 3-1/2 month 0.8927 low in early Jun due to broadbased usd's weakness signals upmove fm 0.8758 has made a top. Despite dlr's rally to 0.9274 in Jul, dlr's drop to 0.9118 on chf buying signals temp. top is made, last week's rebound to 0.9232 suggests pullback possibly over, abv 0.9274, 0.9320/30 later this month. Only below 0.9118 risks stronger retrace. to 0.9053.
Today, although day's selloff from 0.9186 to 0.9130 suggests consolidation with downside bias remains, below Jul's low at 0.9118 needed to extend fall from 0.9274 to 0.9077/80, 'bullish convergences' on hourly indicators would keep price abv 0.9053. A daily close abv 0.9186 signals low, 0.9232, 0.9260/70 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.