Daily Technical Outlook on Major - USD/CHF

   DAILY USD/CHF TECHNICAL OUTLOOK
Last Update At 15 Mar 2019 01:05GMT

Trend Daily Chart
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Daily Indicators
Turning down

21 HR EMA
1.0041

55 HR EMA
1.0051

Trend Hourly Chart
Down

Hourly Indicators
Turning up

13 HR RSI
44

14 HR DMI
44

Daily Analysis
Consolidation with downside bias

Resistance
1.0124 - Last Thur's 15-week high
1.0085 - Wed's high
1.0063 - Tue's low (now res)

Support
1.0020 - Last Mon's high (now sup)
0.9985 - Last Tue's low
0.9964 - Mar 01 low

  • USD/CHF - 1.0039... Dlr swung broadly sideways in directionless Thur's session as market focus was on other majors. Price rebounded to 1.0049 at European open, then marginally higher to 1.0052 in NY morning b4 retreating.

  • On the bigger picture, dlr's rally fm 2018 31-month trough of 0.9188 in mid-Feb to as high as 1.0068 in Jul, then gain to a 20-month peak at 1.0128 mid- Nov confirms downtrend fm 2016 6-year peak at 1.0344 has made a low. Despite sub sequent erratic fall to a 3-month low at 0.9716 in Jan, dlr's rally to 1.0124 last Thur suggests re-test of 1.0128 would be forthcoming next, abv would extend said rise fm 0.9188 to to 1.0171, then 1.0248 later, 'bearish divergences' on daily indicators should cap dlr below 1.0344. On the downside, only a daily close below 0.9927 sup suggests choppy trading below 1.0128 would continue, then risk is seen for stronger retracement to 0.9906 but reckon 0.9801 would hold.

  • Today, although dlr has recovered after Thur's fall to 1.0027 n consolidation would be seen b4 recent decline fm 1.0124 resumes to 0.9964, then 0.9951, as hourly indicators would display bullish convergences on such move, reckon 0.9927 would hold. Only abv 1.0085 signals temp. low made, 1.0119.

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