Daily Technical Outlook & Trading Ideals USD/CHF: Mar 31, 2015

  DAILY USD/CHF TECHNICAL OUTLOOK
Last Update At 31 Mar 2015   00:18GMT

Trend Daily Chart
Sideways

Daily Indicators
Turning down

21 HR EMA
0.9666

55 HR EMA
0.9643

Trend Hourly Chart
Near term up

Hourly Indicators
Rising

13 HR RSI
58

14 HR DMI
+ve

Daily Analysis
Choppy consolidation to continue

Resistance
0.9796 - Last Mon's Asian high
0.9729 - Mar 20 low (now res)
0.9693 - Last Fri's high

Support
0.9605 - Y'day's low
0.9558 - Last Fri's low
0.9536 - Last Tue's low

. USD/CHF - ...... Although the greenback traded sideways in Asia n briefly edged lower to 0.9605 in European morning, price swiftly rose to 0.9674 b4 retreating. However, dlr found renewed buying at 0.9620 in NY morning n gained to session high at 0.9689, helped by upbeat U.S. pending home sales data.

. Looking at the hourly n daily charts, dollar's strg rebound fm last wk's low at 0.9491 (Thur) to 0.9693 last Fri suggests the early 3-legged decline fm Mar's 2-month peak at 1.0129 has made a temporary low there n choppy trading with upside bias is seen. Abv 0.9693 wud extend gain twd 0.9729 (prev. sup, now res), then twds 0.9738, being the 50% r of fall fm 0.9984-0.9491, however, strg rise abv there is unlikely to be seen this week n reckon res 0.9796 wud remain intact n yield retreat later. On the downside, only below 0.9491 wud revive bearishness for a stronger retrace. of upmove fm Jan's 40-month trough at 0.7360 twds to 0.9448/50 (26 Feb low n 38.2% r of 0.8352 to 1.0129 resp.).

. Today, as current price is trading abv 21-hr n 55-hr emas, suggesting consolidation with upside bias remains, however, as hourly oscillators wud display bearish divergences on next rise, reckon 0.9729 wud hold on 1st testing.