Daily technical and trading outlook – USD/CHF

  Daily USD/CHF technical outlook

Last Update At 15 Apr 2021 00:52GMT

Trend daily chart

Sideways

Daily Indicators

Turning down

21 HR EMA

0.9223

55 HR EMA

0.9225

Trend hourly chart

Sideways

Hourly Indicators

Bullish convergences.

13 HR RSI

54

14 HR DMI

-ve

Daily analysis

Consolidation with upside bias.

Resistance

0.9281 - Last Fri's high.
0.9259 - Tue's high.
0.9234 - Wed's high.

Support

0.9187 - Wed's low.
0.9172 - 50% r of 0.8872-0.9472.
0.9133 - 223.6 times ext. of 0.9472-0.9355 fm 0.9395.

USD/CHF - 0.9226.. Although dlr extend its recent losing streak n fell to a 5-week low of 0.9187 n Europe y'day, price found renewed buying there n rallied to 0.9234 in NY due to rise in EUR/CHF cross b4 trading sideways.

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 in Jan 2021, subsequent rebound to 0.9046 in early Feb, then an impressive rally in Mar due to broad-based USD's strength to an 8-month high of 0.9472 (Apr 01) suggests price would head to 0.9545/50, bearish divergences on daily indicators should cap dlr at 0.9610/20. Tue's break of 0.9214 sup may head to 0.9172 but 0.9027 should hold.

Today, as Wed's 0.9187 low was accompanied by 'bullish convergences' on hourly indicators, subsequent strong bounce to 0.9234 suggests decline fm Apr's 0.9472 peak has made a temporary bottom but abv 0.9259 is needed to head to 0.9281, then 0.9302/03. Below 0.9187 risks 0.9150 but 0.9133 should hold.