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Daily technical and trading outlook – USD/CHF

AceTrader Team AceTrader

Weekly USD/CHF technical outlook

Last Update At 27 Jun 2022 01:55GMT.

Trend daily chart

Sideways

Daily Indicators

Turning down

21 HR EMA

0.9581

55 HR EMA

0.9600

Trend hourly chart

Sideways

Hourly Indicators

Neutral

13 HR RSI

14 HR DMI

-ve

Daily analysis

Choppy consolidation to continue.

Resistance

0.9689 - Last Wed's high.
0.9633 - Last Tue's low (now res).
0.9602 - Last Thur's NY high.

Support

0.9568 - Thur's low.
0.9523 - Last Thur's low.
0.9496 - 123.6% ext. of 0.9679-0.9568 fm 0.9633.

USD/CHF - 0.9572.. Dlr remained on the back foot last week. Price fell fm 0.9689 to 0.9582 Wed n despite rebounding to 0.9679, dlr met selling n tumbled to a 2-month bottom at 0.9523 in NY Fri b4 rebounding on cross-selling in chf.

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 near 3-year peak of 1.0064 (May) suggests price would head twd 1.0128 but 2019 peak at 1.0238 (Apr) should hold. Despite staging a strong rally from 0.9516 (May) to 1.0052 in post-FOMC last Wed, sub- sequent sharp fall to 1.0631 Thur in post-SNB trading wud prolong choppy trading below 1.0064. As long as 0.9520/23 holds, upside bias remains for 0.9633, 0.9689.

Today, despite dlr's selloff below 0.9568 (Thur) to 0.9523 Fri, subsequent rebound suggests decline fm Jun's near 1-month peak at 1.0052 has possibly made a temporary trough there n consolidation with upside bias remains for gain twd 0.9633, break wud yield further gain to 0.9679/89. Below 0.9563/68, 0.9640.

Author

AceTrader Team

AceTrader

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