Daily technical and trading outlook – USD/CHF

Daily USD/CHF technical outlook 

Last Update At 19 May 2022 01:14GMT.

Trend daily chart

Down

Daily Indicators

Easing fm o/bot

21 HR EMA

0.9903

55 HR EMA

0.9938

Trend hourlychart

Down

Hourly Indicators

Falling

13 HR RSI

30

14 HR DMI

-ve

Daily analysis

One more fall b4 rebound

Resistance

0.9984 - Wed's high
0.9959 - Tue's NY high
0.9919 - Tue's low ( now res)

Support

0.9861 - Wed's low
0.9828 - May 06 low
0.9798 - Reaction high fm 0.9711

USD/CHF - 0.9871.. Despite rebounding to 0.9984 in European morning, dlr met selling n tumbled to 0.9892 in NY morning b4 ratcheting lower to session lows of 0.9861 on safe-haven chf buying on U.S. stock market rout b4 rebounding.

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 ended n despite subsequent 1-year long monthly sideways swings, dlr's rally abv 0.9472 in Apr to a fresh near 3-year peak of 1.0064 Mon suggests price would head to 1.0128, o/bot reading on daily indicators should cap price below 2019 peak at 1.0238 (Apr) n yield a much-needed correction in late Apr/May) . On the downside, a weekly close below 0.9873 would be 1st signal temp. top is made, risks stronger retracement twd 0.9711 b4 prospect of rebound.

Today, dlr's selloff below 0.9919 (Tue) to 0.9861 confirms recent erratic upmove has made a top at Mon's fresh near 3-year peak at 1.0064 n stronger retracement twd 0.9828 may be seen but 0.9798/00 would hold due to oversold condition. A daily close abv 0.9935/4 would risk stronger gain to 0.9980/84.