Daily technical and trading outlook – USD/CHF
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Last Update At 22 Oct 2021 00:19GMT.
Trend daily chart
Sideways
Daily Indicators
Falling
21 HR EMA
0.9185
55 HR EMA
0.9198
Trend hourly chart
Down
Hourly Indicators
Bullish convergences
13 HR RSI
44
14 HR DMI
-ve
Daily analysis
One more fall b4 rebound.
Resistance
0.9252 - Wed's high.
0.9223 - Last Fri's low (now res).
0.9206 - Thur's high.
Support
0.9164 - Sep 15 low.
0.9133 - Sep 07 low.
0.9101 - Aug 17 low.
USD/CHF - 0.9184.. Dlr remained on the back foot in Asia yesterday n staged a recovery FM 0.9186 to 0.9206 in Europe b4 resuming a decline FM Sep's 0.9368 top to a fresh 1-month low of 0.9171 in NY due to active cross-buying in CHF.
On the bigger picture, DLR's impressive rise FM Jan's near the 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 in early Jun due to broad-based USD's weakness signals up move FM 0.8758 has made a top, however, subsequent bounce to 0.9274 (Jul), then again to 0.9368 in Sep suggests pullback from 0.9472 has ended n re-test this key res is likely in late Oct/Nov. Tue's break of 0.9195 would extend weakness to 0.9150, then 0.9101 later this week.
Today, as DLR's weakness to 0.9171 was also accompanied by 'bullish convergences' on hourly indicators, reckon 0.9101 sups should remain intact n bring a long-overdue retracement of said fall FM 0.9368. A daily close abv 0.9206 signals temporary low is made, yields correction to 0.9252, then two 0.9272 next week.
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