Weekly Technical and Trade Outlook – USD/CHF

USD/CHF Weekly Technical Outlook

Last updated at Jul 18, 2022 01:15 GMT.

Daily trend chart

Next to.

Daily indicators

Neutral.

21 HR EMA

0.9781

55 HR EMA

0.9799

Trend hourly chart

Short term down.

Time indicators

Get o/sold.

13 HR RSI

31

IMD 2 p.m.

+ve

Daily analysis

Consolidation with a bullish bias.

Resistance

0.9941 - New York's high from last Friday.
0.9890 - 123% project. from 0.9683-0.9798 fm 0.9748.
0.9886 - High from last Thursday.

Support

0.9823 - NY low from last Thursday.
0.9795 - Hourly chart.
0.9758 - Last Wednesday's low.

USD/CHF - 0.9821 .. Despite pulling back to 0.9758 on the chf cross buys, the pair found further buying and rallied to a near month high at 0.9886 on the broad-based usd strength b4 retreating to 0.9760 on Friday on USD profit taking.

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 0.9546 in May and then back to 1.0052 in mid-June, dlr's selloff after the SNB's hawkish rate hike and weakness to June lows at 0.9496 suggest that further jerky swings below 1.0064 would continue. Thur's rally to 0.9886 could head towards 0.9930/35, breakout, 0.9989 later this month.

Today, dlr's rebound of the recent rise from the June 2-month low of 0.9496 to 0.9886 in New York on Friday suggests that the correction from May's nearly 3-year high at 1.0064 may have To be ended, a subsequent pullback to 0.9760 suggests range trading is in store b4 another rise but 0.9940/45 shud hold. Below 0.9800, risks are 0.9788.