Daily Technical Outlook & Trading Ideals on USD/CHF: Nov 27, 2014

  DAILY USD/CHF TECHNICAL OUTLOOK
Last Update At 27 Nov 2014   00:03GMT

Trend Daily Chart
Up

Daily Indicators
Bearish divergences

21 HR EMA
0.9624

55 HR EMA
0.9640

Trend Hourly Chart
Near term down

Hourly Indicators
Falling

13 HR RSI
40

14 HR DMI
-ve

Daily Analysis
Consolidation with downside bias

Resistance
0.9742 - Nov 07 fresh 1-year high
0.9698 - Tue's high
0.9666 - Y'day's high

Support
0.9595- Y'day's low
0.9554 - Last Thur's low
0.9530 - Last Thur's low

. USD/CHF - 0.9613... Dlr's intra-day choppy trading in Europe y'day later ended with subsequent losses. Despite staging a rebound fm 0.9622 to 0.9666 on sharp retreat in eur/usd in European morning, price quickly fell on broad-based weakness in the greenback, price later fell to 0.9595 after downbeat U.S. data.

. Looking at the bigger picture, despite Mon's higher open to 0.9731 in NZ, failure to re-test Nov's fresh 1-year peak at 0.9742 n y'day's sell off to 0.9595 has deferred our previous bullish prospect of a resumption of uptrend n further choppy trading below aforesaid peak is envisaged n weakness twd 0.9568 (80.9% r of 0.9530-0.9731) can't be ruled out, however, as long as 0.9530 (last Wed's reaction low fm 0.9742) holds, dlr's MT 3-legged up move fm Mar's 2-1/2 year bottom at 0.8698 wud resume n yield re-test of 0.9742 next week, abv wud extend gain twd 0.9772, being 61.8% projection of 0.9024-0.9690 measures fm 0.9690, however, as daily technical indicators wud display 'bearish divergences' on such move, strg gain abv there is unlikely n psychological res at 0.9800 shud hold.

. Today, we're standing aside initially n may sell dlr on intra-day recovery or buy on next decline in anticipation of a rebound.