Daily technical and trading outlook – USD/CHF

   DAILY USD/CHF TECHNICAL OUTLOOK

Last Update At 25 Feb 2021 00:55GMT

Trend Daily Chart

Up

Daily Indicators

Rising

21 HR EMA

0.9067

55 HR EMA

0.9039

Trend Hourly Chart

Up

Hourly Indicators

Turning down

13 HR RSI

54

14 HR DMI

+ve

Daily Analysis

Consolidation b4 one more rise

Resistance

0.9192 - Nov 11 high
0.9147 - Nov 23 high
0.9094 - Wed's 11-week high

Support

0.9049 - Wed's European low
0.9023 - Mon's high (now sup)
0.8995 - Last Thur's high (now sup)

USD/CHF - 0.9068.. Dlr extended Tue's rally n climbed to 0.9073 in Asia y'day b4 retreating to 0.9049 in Europe on profit-taking. The pair later hit a near 3-month high of 0.9094 in NY b4 easing after Fed Powell's dovish comments.

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 due to usd's broad-based weakness signals LT downtrend fm 2016 peak at 1.0344 has once again resumed. Although dlr tumbled to a near 6-year bottom at 0.8758 initially in Jan 2021, as this level was also accompanied by 'bullish convergences' on daily indicators, subsequent rebound to 0.8925, then gain to a near 3-month high at 0.9094 Wed suggests further headway to 0.9200/07 would be seen b4 prospect of correction. Only below 0.8935 indicates temporary top is made n risks weakness to 0.8872, 0.8839.

Today, as Wed's 0.9094 top was also accompanied by 'bearish divergences' on hourly indicators, intra-day retreat would bring consolidation b4 marginal gain, reckon 0.9147 should cap upside n yield a much-needed minor correction. A daily close below 0.9049 signals temp. top is made n risks 0.9023, 0.8995.