Daily technical and trading outlook – USD/CHF

Daily USD/CHF technical outlook

Last Update At 28 Sep 2022 05:24GMT.

Trend daily chart

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Daily indicators

Getting o/bot

21 HR EMA

0.9911

55 HR EMA

0.9883

Trend hourly chart

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Hourly indicators

Rising

13 HR RSI

62

14 HR DMI

+ve

Daily analysis

Consolidation with upside bias.

Resistance

1.0064 - May's 3-year high.
1.0000 - Psychological handle.
0.9966 - Mon's 3-month high.

Support

0.9886 - Hourly chart.
0.9855 - Mon's NY low.
0.9805 - Mon's European low.

USD/CHF - 0.9941.. Despite retreating fm 0.9947 in Australia to 0.9850 ahead of NY open Tue initially, dlr found buying there n rebounded strongly to 0.9923 near NY close on renewed usd's strength due to rise in U.S. yields.

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, despite usd's weakness to 0.9480 in Sep, subsequent rebound n Thur's rally to 0.9851 would re-test 0.9869 while below 0.9699 risks 0.9621.

Today, dlr's rally on Mon abv Jul's 0.9886 high to 0.9966 signals the correction fm 2022 near 3-year peak at 1.0064 (May) has ended n as price has risen after y'day's strg retreat to 0.9850, re-test of 0.9966 is seen for gain twd 1.0000 handle later. Only below 0.9850 risks strg retracement to 0.9825/35.