DAILY USD/CHF TECHNICAL OUTLOOK Last Update At 01 Aug 2014 00:15GMT
Trend Daily Chart
Sideways
Daily Indicators
Rising
21 HR EMA
0.9088
55 HR EMA
0.9081
Trend Hourly Chart
Up
Hourly Indicators
Turning down
13 HR RSI
52
14 HR DMI
-ve
Daily Analysis
Consolidation b4 uptrend resumes
Resistance
0.9194 - eq. proj. of 0.8698-0.9037 fm 0.8857
0.9157 - Jan 21 high
0.9110 - Wed's 6-month high
Support
0.9035 - Mon's low
0.9008 - Last Thur's low
0.8972 - Last Mon's low
. USD/CHF - 0.9088... Although dlr traded narrowly in tandem with eur/usd in Asia y'day n briefly edged lower to 0.9078 in European morning, the pair pared intra-day losses n rose to session high at 0.9103 at NY open. However, offers below 0.9110 top pressured price lower n dlr fell to 0.9076 in NY morning.
. The outlook remains similar to prev's update, where dlr's rally to a fresh 6-month high at 0.9110 on Wed confirms the 3-legged upmove fm Mar's 2-1/2 year trough at 0.8698 wud resume after consolidation b4 extending gain twds 2014 top at 0.9157 (Jan 21), abv wud yield marginal headway, however, as 'bearish divergences' on the hourly indicators wud appear on such a move, strg gain abv there is unlikely to be seen n reckon 0.9194 (equality proj. of 0.8698-0.9037 measured fm 0.8857) shud remain intact this week n bring a much-needed correction next week. On the downside, only below last Thur's low at 0.9008 wud confirm a temporary top has been made n risk stronger retracement twd 0.8972 (last Mon's low) in the early part of Aug.
. Today, we are holding a long position entered on Wed for gain to 0.9150 n only below Mon's 0.9035 wud risk stronger retracement twd 0.9008.
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