Daily Technical and Trade Outlook – USD/CHF

Daily USD/CHF Technical Outlook

Last updated at Sep 15, 2022 01:19 GMT.

Daily trend chart

Next to

Daily indicators

Neutral

21 HR EMA

0.9616

55 HR EMA

0.9603

Trend hourly chart

Short term.

Time indicators

Neutral

13 HR RSI

58

IMD 2 p.m.

+ve

Daily analysis

Consolidation with a bullish bias.

Resistance

0.9709 - Houtly chart.
0.9660 - Low from Aug 29 (now resolved).
0.9636 - Wednesday's high.

Support

0.9582 - Tuesday low in New York.
0.9548 - Last Friday's low.
0.9510 - Monday low.

USD/CHF - 0.9625. Dlr narrowly moved in Asia. Despite pulling back to 0.9590 in the European morning, price found further buying there and edged higher to session highs of 0.9636 near NY near the broad-based rally in USD.

All in all, the impressive rise in dlr fm January's near 6-year low of 0.8758 to 0.9472 on April 1 due to the rally in US yields suggests an erratic fall fm 1 .0344 (peak 2016) to retrace the upside LT fm 2015 record low 0.7360 ended n despite subsequent year-long monthly sideways swings dlr rally around 0.9472 in April to reach a nearly 3-year high of 1.0064 (May) indicates that the price would head towards 1.0128. Despite a subsequent drop to 0.9372 in early August, dlr's rebound to 0.9869 last week suggests that a correction on n would lead to further gain towards 1.0064. That said, USD weakness at 0.9548 last week suggests that caution will only lead to consolidation. Only a daily close below 0.9472 aborts n risks 0.9372.

Despite dlr rallying from 0.9869 6-week high in fall end September to 4-week low of 0.9480 on Tuesday, the subsequent jump to 0.9633 on the same day on US core CPI hot suggests the decline may have ended n abv 0.9675 (50% r) wud head back twd 0.9709. Only below 0.9582 can we risk weakening to 0.9548/58.