Daily USD/CHF Technical Outlook
Last updated at April 20, 2022 01:13 GMT.
Daily trend chart
At the top
21 HR EMA
55 HR EMA
Trend hourly chart
At the top
13 HR RSI
IMD 2 p.m.
Resumption of the recent upward movement.
0.9491 – European high for Tuesday (now sup).
0.9466 – Asian high on Tuesday (now sup).
0.9434 – Tuesday low.
USD/CHF – 0.9530.. The greenback continued its recent winning streak despite falling to 0.9434 at the New York open, the price resumed its longs and hit a new 21-month high at 0.9523 in tandem with US yields near the close.
Overall, dlr’s impressive rise from January’s nearly 6-year low of 0.8758 to 0.9472 on April 1 due to the rally in US yields suggests an erratic fall from 1.0344 (2016 peak) to retrace LT’s rise from the 2015 all-time low at 0.7360 may have ended n price is on its way to 0.9551 (50%r). That said, the dlr’s decline to a 3.5 month low at 0.8927 in early June on widespread signals of usd weakness to the upside of 0.8758 has peaked. Dlr abv 0.9342 to 0.9460 mid-March rally would retest 2021 peak at 0.9472, abv would encourage further advance towards 0.9551. Only a daily close below 0.9196 indicates that the top has been reached and risks a stronger retracement to 0.9151, breakout, 0.9093 at the end of April.
Today, as the current price trades between 9pm and 55am, suggesting that the bullish bias remains for a gain at 0.9575, the “bearish divergences” on the hourly indicators would cap the price below 0.9650 res and would lead to a correction later. Only a daily close below 0.9466 can risk a stronger retracement to 0.9434, breakout, 0.9407/12.