DAILY USD/CHF TECHNICAL OUTLOOK
Trend Daily Chart
Sideways
Daily Indicators
Turning up
21 HR EMA
0.9421
55 HR EMA
0.9434
Trend Hourly Chart
Down
Hourly Indicators
Turning up
13 HR RSI
46
14 HR DMI
-ve
Daily Analysis
Consolidation b4 one more fall
Resistance
0.9470 - Last Fri's high
0.9442 - Last Fri's low (now res)
0.9427 - Last Thur's low (now res)
Support
0.9385 - Mon's 3-week low
0.9377 - Jun's low (11th)
0.9323 - Mar 12 low
USD/CHF - 0.9419. Although dlr met renewed selling at 0.9462 (NZ) Mon n tumbled to a 3-week low of 0.9385 shortly after NY open due to broad-based usd's weakness, price rebounded on short covering to 0.9423 after upbeat US data.
On the bigger picture, dlr's rally fm 2018 31-month trough of 0.9188 to a 2-year peak at 1.0238 in Apr (2019) confirms downtrend fm 2016 6-year peak at 1.0344 has made a low there. Despite staging an erratic rise to 2019 peak of 1.0238 in Apr, dlr's selloff fm there n then brief break of 0.9188 to a 4-1/2 year trough of 0.9184 in Mar on safe-haven chf buying signals LT downtrend has resumed. Having said that, dlr's rally to 0.9903 signals low is made, although price ratcheted lower to 0.9377 in Jun on selling in eur/chf cross, subsequent bounce to 0.9553 would bring range trading with mild upside bias, abv would head to 0.9650 but reckon 0.9783 (May's high) would hold. Below 0.9401, 0.9377.
Today, dlr's break of 0.9421 sup to 0.9385 signals re-test of Jun's near 3-month bottom at 0.9377 after consolidation, break would extend MT fall fm 0.99 03 (Mar high) to 0.9355/65, minor 'bullish convergences' on hourly indicators should keep price abv 0.9323. Only abv 0.9442 signals temp. low, 0.9470, 0.9493.
-637297045841007258.png)
Trendsetter does not warrant or guarantee the accuracy, timeliness or completeness to its service or information contained therein. Trendsetter does not give, whatsoever, warranties, expressed or implied, to the results to be obtained by using its services or information it provided. Users are trading on their own risk and Trendsetter shall not be responsible under any circumstances for the consequences of such activities. Trendsetter and its affiliates, in no event, be liable to users or any third parties for any consequential damages, however arising, including but not limited to damages caused by negligence whether such damages were foreseen or unforeseen.
Recommended Content
Editors’ Picks
EUR/USD trades with negative bias, holds above 1.0700 as traders await US PCE Price Index
EUR/USD edges lower during the Asian session on Friday and moves away from a two-week high, around the 1.0740 area touched the previous day. Spot prices trade around the 1.0725-1.0720 region and remain at the mercy of the US Dollar price dynamics ahead of the crucial US data.
USD/JPY jumps above 156.00 on BoJ's steady policy
USD/JPY has come under intense buying pressure, surging past 156.00 after the Bank of Japan kept the key rate unchanged but tweaked its policy statement. The BoJ maintained its fiscal year 2024 and 2025 core inflation forecasts, disappointing the Japanese Yen buyers.
Gold price flatlines as traders look to US PCE Price Index for some meaningful impetus
Gold price lacks any firm intraday direction and is influenced by a combination of diverging forces. The weaker US GDP print and a rise in US inflation benefit the metal amid subdued USD demand. Hawkish Fed expectations cap the upside as traders await the release of the US PCE Price Index.
Sei Price Prediction: SEI is in the zone of interest after a 10% leap
Sei price has been in recovery mode for almost ten days now, following a fall of almost 65% beginning in mid-March. While the SEI bulls continue to show strength, the uptrend could prove premature as massive bearish sentiment hovers above the altcoin’s price.
US economy: Slower growth with stronger inflation
The US Dollar strengthened, and stocks fell after statistical data from the US. The focus was on the preliminary estimate of GDP for the first quarter. Annualised quarterly growth came in at just 1.6%, down from the 2.5% and 3.4% previously forecast.