DAILYUSD/CHF TECHNICAL OUTLOOK
Last Update At 25 Apr 2014 00:25GMT
Trend Daily Chart
Sideways
Daily Indicators
Neutral
21 HR EMA
0.8823
55 HR EMA
0.8828
Trend Hourly Chart
Sideways
Hourly Indicators
Falling
13 HR RSI
44
14 HR DMI
-ve
Daily Analysis
Choppy trading to continue
Resistance
0.8905 - Apr 04 low (now res)
0.8880 - Apr 08 high
0.8862 - Tue's high
Support
0.8808 - Wed's low
0.8778 - Last Thur's low
0.8743 - Apr 11 3-week low
. USD/CHF - 0.8818 ... The greenback remained under pressure y'day inAsia n
retreated to 0.8814 in European morning, however, price pared intra-daylosses n
rose to session high at 0.8857 at NY open on upbeat U.S. durable goodsorder but
only to retreat back to 0.8814 on risk aversion as tensions in Ukrainereturned.
. Looking at the hourly chart,y'day's retreat after failure to penetrate
Tue's high at 0.8862 suggests near term rise fm Apr's low at 0.8743 is notready
to resume n further choppy consolidation below said res wud continue withmild
downside bias. Below 0.8808 wud indicate aforesaid upmove has ended n turnout-
look bearish for decline to 0.8779 (Apr 17 low), break wud confirm n yieldfur-
ther weakness twd 0.8743. Looking ahead, a breach of 0.8743 wud signal MTdown-
trend fm 2012 peak at 0.9972 has possibly resumed n bring a re-test ofMar's
2-year trough at 0.8698 early next week.
. Today, we're selling onrecovery in anticipation of weakness twd pivotal
sup at 0.8778. On the upside, only abv 0.8862 wud abort near termbearishness n
outlook wud become bullish for gain to 0.8880 (Apr 08 high), then twds0.8905
(prev. sup, now res), however, reckon res at 0.8953 shud remain intact.
Recommended Content
Editors’ Picks
AUD/USD rises to two-day high ahead of Aussie CPI
The Aussie Dollar recorded back-to-back positive days against the US Dollar and climbed more than 0.59% on Tuesday, as the US April S&P PMIs were weaker than expected. That spurred speculations that the Federal Reserve could put rate cuts back on the table. The AUD/USD trades at 0.6488 as Wednesday’s Asian session begins.
EUR/USD now refocuses on the 200-day SMA
EUR/USD extended its positive momentum and rose above the 1.0700 yardstick, driven by the intense PMI-led retracement in the US Dollar as well as a prevailing risk-friendly environment in the FX universe.
Gold price cautious despite weaker US Dollar and falling US yields
Gold retreats modestly after failing to sustain gains despite fall in US Treasury yields, weaker US Dollar. XAU/USD struggles to capitalize following release of weaker-than-expected S&P Global PMIs, fueling speculation about potential Fed rate cuts.
Ethereum ETF issuers not giving up fight, expert says as Grayscale files S3 prospectus
Ethereum exchange-traded funds theme gained steam after the landmark approval of multiple BTC ETFs in January. However, the campaign for approval of this investment alternative continues, with evidence of ongoing back and forth between prospective issuers and the US SEC.
Australia CPI Preview: Inflation set to remain above target as hopes of early interest-rate cuts fade
An Australian inflation update takes the spotlight this week ahead of critical United States macroeconomic data. The Australian Bureau of Statistics will release two different inflation gauges on Wednesday.