Daily technical and trading outlook – USD/CHF
|Daily USD/CHF technical outlook
Last Update At 24 May 2022 01:31GMT.
Trend daily chart
Sideways
Daily indicators
Neutral
21 HR EMA
0.9674
55 HR EMA
0.9714
Trend hourly chart
Down
Hourly indicators
Bullish convergences.
13 HR RSI
42
14 HR DMI
-ve
Daily analysis
Consolidation with downside bias.
Resistance
0.9764 - Last Fri's high.
0.9729 - Mon's European high.
0.9695 - Last Fri's near 3-week low (now res).
Support
0.9629 - Mon's low.
0.9592 - Apr 22 high (now sup).
0.9526 - Hourly sup.
USD/CHF - 0.9666.. Dlr remained on the back foor. Price met selling at 0.9751 (NZ) n fell to 0.9660 in European morning b4 ratcheting lower to session lows of 0.9629 at NY open on SNB's Macehler comments as well as usd's retreat.
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 ended n despite subsequent 1-year long monthly sideways swings, dlr's rally abv 0.9472 in Apr to a near 3-year peak of 1.0064 last Mon suggests price would head twd 1.0128 but 2019 peak at 1.0238 (Apr) should hold n yield a much-needed correction in late Apr/May. Last Fri's weakness to 0.9695 signals signals temp. top is made n may head to 0.9630 but below 0.9592 needed to ex- tend decline twd 0.9488 b4 prospect of rebound later next month.
Today, dlr's selloff below 0.9695 (Fri) to a near 4-week bottom at 0.9629 signals recent decline to retrace LT upmove wud head to 0.9600/10, however, 'bullish convergences' on hourly indicators should keep price abv 0.9585/90 n yield prospect of bounce later. Only daily close abv 0.9695 risks 0.9729, 0.9751.
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