fxsoriginal  Weekly USD/CHF technical outlook

Last Update At 29 Nov 2021 00:08GMT.

Trend daily chart

Sideways

Daily Indicators

Easing FM o/bot

21 HR EMA

0.9257

55 HR EMA

0.9292

Trend hourly chart

Down

Hourly Indicators

Rising FM o/s

13 HR RSI

39

14 HR DMI

-ve

Daily analysis

Consolidation with a downside bias.

Resistance

0.9325 - Last Thur's low (now res).
0.9302 - Last Tue's low (now res).
0.9251 - Nov 19 low (now res).

Support

0.9217 - Last Fri's 10-day low.
0.9188 - Nov 14 low.
0.9157 - Nov 08 high (now sup).

USD/CHF - 0.9245.. Although DLR continued its recent winning streak initially last week and hit a 7-1/2 month peak at 0.9373 on Wed b4 retreating. Des- pite rebounding to 0.9364 Fri, price tumbled to as low as 0.9217 in NY session.

On the bigger picture, DLR's impressive rise FM Jan's near 6-year bottom at 0.8758 to as high as 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 low at 0.7360 has possibly ended and price is end route twd 0.9551 (50% r). Having said that, DLR's decline to a 3-1/2 month 0.8927 low in early Jun due to broad-based usd's weakness signals move FM 0.8758 has made a top. Dlr's erratic rise to 0.9373 last week and subsequent sharp retreat would bring further choppy swings below 0.9472 and only weekly close below 0.9175 risks weakness twd 0.9088 but below needed to extend decline twd 0.9019 in Dec.

Today, DLR's selloff on Fri to 0.9217 due to active safe-haven CHF buying on Covid variant worries suggests temp. top has been made and weakness to 0.91 88 is envisaged, o/sold readings on hourly indicators would keep price abv 0.91 53/57 and bring rebound. Only abv 0.9302 signals low and yields 0.9335/45.

USDCHF

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