Daily USD/CHF technical outlook

Last Update At 22 Sep 2022 01:04GMT.

Trend daily chart

Sideways

Daily Indicators

Neutral

21 HR EMA

0.9657

55 HR EMA

0.9650

Trend hourly chart

Near term up

Hourly Indicators

Rising

13 HR RSI

65

14 HR DMI

+ve

Daily analysis

Consolidation with upside bias.

Resistance

0.9762 - Sep 07 low (now res).
0.9709 - Sep 08 European low.
0.9699 - Wed's high.

Support

0.9621 - Wed's low.
0.9605 - Last Fri's European low.
0.9557 - Last Thur's low.

USD/CHF - 0.9689.. Dollar rallied to 0.9683 in European morning on risk aversion n despite ratcheting higher to session highs of 0.9699 in post-FOMC, price sharply fell to 0.9621 b4 staging a strong recovery on rebound in USD.

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 0.9372 in early Aug, dlr's rally back to 0.9869 in early Sep suggests correction over n would head twd 1.0064. Having said that, USD's weakness to 0.9480 last week would yield sideways trading. Abv 0.9762 would re-test 0.9869 while below 0.9480 risks 0.9372/82.

Dlr's brief jump abv Fri's 0.9695 to a 10-day high of 0.9699 Wed suggests erratic rise fm Sep's 4-week trough to retrace decline fm 0.9869 (Sep top) has resumed, as price has rebounded after retreat to 0.9621, gain to 0.9725 is seen but 0.9762 shud hold. Only below 0.9521 would risk weakness twd 0.9605.

Chart

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