Daily technical and trading outlook – USD/CHF

  Daily USD/CHF technical outlook

Last Update At 20 Jul 2021 00:09GMT.

Trend daily chart

Sideways

Daily Indicators

Turning down

21 HR EMA

0.9187

55 HR EMA

0.9186

Trend hourly chart

Sideways

Hourly Indicators

Neutral

13 HR RSI

49

14 HR DMI

-ve

Daily analysis

Choppy consolidation to continue.

Resistance

0.9274 - Jul 02 high.
0.9251 - Jul 06 high.
0.9224 - Jul 07 low (now res).

Support

0.9164 - Y'day's low.
0.9143 - Last Wed's low.
0.9118 - Last Thur's near 1-month low.

USD/CHF - 0.9184.. Dlr traded sideways in Asia y'day b4 rising to an 11 -day 0.9221 high in Europe, however, price later tumbled to session lows of 0.9164 in NY on safe-haven buying in CHF on global stock market rout.

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 possibly ended n price is en route twd 0.9551 (50% r). Having said that, dlr's decline to a 3-1/2 month 0.8927 low in early Jun due to broad- based usd's weakness signals upmove fm 0.8758 has made a top. Despite dlr's rally to 0.9274 in Jul, dlr's drop to 0.9118 Wed on chf buying signals said recovery has ended there n weakness to 0.9101 (50% r) may be seen, however, reckon 0.9053 should contain weakness n yield another rebound later this month.

Today, although y'day's gain to 0.9221 signals correction fm Jul's 0.9274 peak has possibly ended, as this top was accompanied by 'bearish divergences' on hourly indicators, subsequent retreat to 0.9164 would yield consolidation b4 prospect of further gain, abv 0.9221/24, 0.9251/61. Below 0.9143 risks 0.9118/23.