DAILY USD/CHF TECHNICAL OUTLOOK
Last Update At 24 Nov 2020 00:48GMT
Trend Daily Chart
Sideways
Daily Indicators
Neutral
21 HR EMA
0.9115
55 HR EMA
0.9111
Trend Hourly Chart
Near term up
Hourly Indicators
Rising
13 HR RSI
8
14 HR DMI
+ve
Daily Analysis
Consolidation with upside bias
Resistance
0.9192 - Nov 11 high
0.9175 - Nov 10 high
0.9151 - Last week's high (Mon)
Support
0.9077 - Mon's low
0.9060 - Nov 06 high (now sup)
0.9031 - Oct's low (21)
USD/CHF - 0.9125.. Although dlr met renewed selling at 0.9114 in NZ on Mon n fell to a 13-day low at 0.9077 in NY morning, price then jumped to 0.9147 after release of robust US PMIs b4 retreating to 0.9119 on profit-taking.
On the bigger picture, despite dlr's rally fm Sep's bottom at 0.8999 to 0.9296 in late Sep, subsequent erratic fall to 0.9031 n Nov's brief break of 0.8999 to a fresh 5-1/2 year 0.8983 low in post-NFP NY due to usd's broad-based weakness signals LT downtrend fm 2016 peak at 1.0344 has once again resumed. However, dlr's rally to 0.9192 in Nov suggests temp. low is made n subsequent retreat to 0.9089 last week would bring range trading. As long as 0.9030/40 holds , re-test of 0.9192 may be seen but abv 0.9207 (Nov high) needed for stronger retrace. to 0.9296. On the downside, daily close below 0.9031 (Oct low) signals recovery has ended n yields re-test of 0.8983, below extend twd 0.8900 in Dec.
Today, despite dlr's resumption of decline fm 0.9192 to 0.9077 y'day, subsequent jump to 0.9147 suggests temporary low is made n range trading would be seen b4 re-test of 0.9192, however, 'bearish divergences' should cap price below Nov's 0.9207 peak today. Below 0.9077 risks 0.9060, then 0.9030/35 later.
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