Last Update At 27 Aug 2015 23:40GMT
Trend Daily Chart
Sideways
Daily Indicators
Turning down
21 HR EMA
0.9604
55 HR EMA
0.9538
Trend Hourly Chart
Down
Hourly Indicators
Rising
13 HR RSI
80
14 HR DMI
+ve
Daily Analysis
Consolidation with upside bias
Resistance
0.9799 - Aug 17 high
0.9714 - 70.7% r of 0.9903-0.9257
0.9673 - Y'day's high
Support
0.9595 - Hourly res, now sup
0.9553 - Wed's high (now sup)
0.9506 - Tue's high (now sup)
. USD/CHF - 0.9654... The pair continued its winning streak on Thur. Despite initial pullback to 0.9512 at Asian open, rally in Asian stocks, then the same in Europe & NY session helped dlr climb to as high as 0.9673 b4 easing.
. Looking at the hourly n daily charts, despite Mon's selloff to 0.9257, subsequent strg rebound to 0.9553 Wed, the 0.9673 y'day suggests the pullback fm Aug's 4-1/2 high at 0.9903 has ended n consolidation with upside bias remains. As price has risen abv 61.8% r (0.9656) of aforesaid fall, further gain twd 0.9714 (70.7% r) is now envisaged, however, reckon pivotal n strg res at 0.9799 would hold on 1st testing. Therefore, in view of abv analysis, buying dlr on dips is recommended n only a daily close below 0.9506 (prev. res, now sup) would signal top has been made, then risk would shoft to the downside for subsequent weaknes twd 0.9384.
. Today, as current price is trading well abv the 21-hr n 55-hr emas, buying dlr on dips is the way to go, however, as hourly oscillators' readings are in o/bot territory, strg gain is not envisaged today. On the downside, only below 0.9553 would be the 1st signal a temporary top is made n risk 0.9506.
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