Daily USD/CHF technical outlook
Last Update At 22 Oct 2021 00:19GMT.
Trend daily chart
Sideways
Daily Indicators
Falling
21 HR EMA
0.9185
55 HR EMA
0.9198
Trend hourly chart
Down
Hourly Indicators
Bullish convergences
13 HR RSI
44
14 HR DMI
-ve
Daily analysis
One more fall b4 rebound.
Resistance
0.9252 - Wed's high.
0.9223 - Last Fri's low (now res).
0.9206 - Thur's high.
Support
0.9164 - Sep 15 low.
0.9133 - Sep 07 low.
0.9101 - Aug 17 low.
USD/CHF - 0.9184.. Dlr remained on the back foot in Asia yesterday n staged a recovery FM 0.9186 to 0.9206 in Europe b4 resuming a decline FM Sep's 0.9368 top to a fresh 1-month low of 0.9171 in NY due to active cross-buying in CHF.
On the bigger picture, DLR's impressive rise FM Jan's near the 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 two 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 up move FM 0.8758 has made a top, however, subsequent bounce to 0.9274 (Jul), then again to 0.9368 in Sep suggests pullback from 0.9472 has ended n re-test this key res is likely in late Oct/Nov. Tue's break of 0.9195 would extend weakness to 0.9150, then 0.9101 later this week.
Today, as DLR's weakness to 0.9171 was also accompanied by 'bullish convergences' on hourly indicators, reckon 0.9101 sups should remain intact n bring a long-overdue retracement of said fall FM 0.9368. A daily close abv 0.9206 signals temporary low is made, yields correction to 0.9252, then two 0.9272 next week.
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
USD/JPY flat-lines below 151.50 after soft Japanese CPI data
USD/JPY stays defensive below 151.50 after the release of a soft Japan's CPI report and mixed Industrial Production and Retail Sales data on Friday. Japanese verbal intervention also weighs on the pair amid the holiday-thinned conditions on Good Friday. US PCE inflation awaited.
AUD/USD buyers lack vigor above 0.6500 amid Good Friday trading lull
AUD/USD is trading listlessly above 0.6500 in the Asian session amid light trading on Good Friday. The Aussie pair shrugs off encouraging comments from China's FX regulator, as price action remains subdued ahead of the US PCE inflation data.
Gold ends Q1 2024 at record highs, what’s next?
Gold is sitting at an all-time high of $2,236, lacking a trading impetus amid holiday-thinned conditions on Good Friday. Most major world markets, including the United States are closed in observance of Holy Friday, leaving volatility around Gold price highly subdued.
Ripple's move above this key level could trigger nearly 50% rally for XRP
Ripple price has overcome a critical resistance level and flipped into a support floor on the weekly time frame. This development happened while XRP tightly consolidated for roughly 250 days. As this coiling up comes undone, investors can expect XRP to kickstart a massive rally.
Will they won’t they cut rates is the question of Q2?
There has been some significant push back from Fed and Bank of England members around the timing of rate cuts, and the Bank of Japan still haven’t physically intervened in the FX market to stem yen weakness although they are threatening to do so.