Daily technical and trading outlook – USD/CHF

Daily USD/CHF technical outlook

Last Update At 16 Aug 2022 01:03GMT.

Trend daily chart

Sideways

Daily Indicators

Neutral

21 HR EMA

0.9451

55 HR EMA

0.9442

Trend hourly chart

Up

Hourly Indicators

Rising

13 HR RSI

63

14 HR DMI

+ve

Daily analysis

Consolidation with upside bias.

Resistance

0.9550 - Last Tue's NY high.
0.9512 - Last Tue's low (now res).
0.9471 - Mon's high.

Support

0.9410 - Mon's low.
0.9372 - Thur's near 4-month low.
0.9336 - 1.5 times ext. of 0.9652-0.9512 fm 0.9546.

USD/CHF - 0.9463.. Dlr rebounded fm 0.9410 to 0.9467 in early European morning n despite retreating to 0.9420 at NY morning, price found renewed buying n rallied to session highs of 0.9471 on broad-based USD's strength.

On the bigger picture, dlr's impressive rise fm Jan's near 6-year bottom at 0.8758 to 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 0.7360 low 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) indicates price would head twd 1.0128. Despite subsequent fall to 0.9546 in May n then rally back to 1.0052 in mid-Jun, dlr's selloff after SNB's hawkish rate hike to Jun's 0.9496 bottom, then 0.9472 in early Aug and Wed's break 0.9372 y'day signals further choppy swings below 1.0064 would continue but break needed for 0.9330/35 later.

Today, despite dlr's resumption of MT decline fm May's near 3-year peak of 1.0064 to a near 4-month trough of 0.9372 (Thur), rebound to 0.9450 Fri, then erratic rise to 0.9471 y'day suggests temp. low is made n would head to 0.9512, then twd 0.9550. Only below 0.9410/20 sup risks 0.9392, break, 0.9372.