DAILY USD/CHF TECHNICAL OUTLOOK
Last Update At 21 May 2019 00:22GMT
Trend Daily Chart
Sideways
Daily Indicators
Turning down
21 HR EMA
1.0091
55 HR EMA
1.0095
Trend Hourly Chart
Near term down
Hourly Indicators
Falling
13 HR RSI
45
14 HR DMI
-ve
Daily Analysis
Consolidation b4 one more fall
Resistance
1.0211 - May 8 high
1.0159 - May 10 high
1.0122 - Y'day's high
Support
1.0081 - Y'day's low
1.0050 - Last Mon's 3-week low
0.9997 - Apr 12 low
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USD/CHF - 1.0090.. Despite initial rebound to to 1.0121 ahead of European open y'day, failure to re-test Fri's 1.0122 prompted selling in the pair n dlr later hit session lows of 1.0081 in NY partly on fall in eur/chf cross.
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On the bigger picture, dlr's rally fm 2018 31-month trough of 0.9188 in mid-Feb to as high as high as 1.0068 (Jul), then to a 20-month peak at 1.0128 in mid-Nov signals downtrend fm 2016 6-year peak at 1.0344 has made a low. Despite subsequent erratic fall to a 3-month low at 0.9716 in Jan, dlr's rally to a 27- month high at 1.0238 Apr confirms upmove fm 0.9188 has resumed n would head to 1.0248 later, prominent 'bearish divergences' on the daily indicators should cap price below 1.0344. Having said that, dlr's early beak of 1.0127 to 1.0050 last week confirms temporary top is in place n may head back to 1.0046, break would yield stronger retracement 0.9997 but reckon 0.9895 should hold this week.
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Today, dlr's fall fm 1.0121 to 1.0081 on Mon suggests correction fm last Mon's 3-week trough at 1.0050 has possibly ended at 1.0122, below 1.0074 would bring re-test of 1.0050, however, 'bullish convergences' on hourly oscillators would keep price abv 0.9997 sup. Only abv 1.0122 risk 1.0145/55 b4 down.
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