DAILY USD/CHF TECHNICAL OUTLOOKLast Update At 28 May 2015 00:07GMT
Trend Daily Chart
Sideways
Daily Indicators
Turning up
21 HR EMA
0.9504
55 HR EMA
0.9489
Trend Hourly Chart
Up
Hourly Indicators
Bearish divergences
13 HR RSI
50
14 HR DMI
+ve
Daily Analysis
Consolidation b4 marginal rise
Resistance
0.9599 - Apr 28 high
0.9561 - 61.8% r of 0.9863-0.9072
0.9545 - Y'day's high
Support
0.9460 - Tue's European low
0.9406 - Mon's low
0.9378 - Last Fri's Asian high (now sup)
. USD/CHF - 0.9499... The pair also swung wildly in tandem with eur/usd in opposite direction on Wed. Despite hitting a 3-week high of 0.9539 in Australia, intra-day rebound in eur/usd knocked price lower to 0.9468 in Europe b4 rising to session high of 0.9545 in NY but only to retreat back to 0.9483 later.
. The daily outlook on dlr remains similar to our recent updates. Last week's rally abv previous res at 0.9359 signals early decline fm Mar's peak at 1.0129 has made a low at 0.9072 (May's 3-month low) n bullishness remains for further headway to 0.9599/0.9600, this is chart res n 50% r of 1.0129-0.9072 respectively, break there would retain upside bias for subsequent gain to 0.9725 (61.8% r fm 1.0129) early next month. As daily technical are turning up, buying dlr on dips this week in anticipation of upmove to aforesaid targets is favoured n only a daily close below 0.9286 would suggest temporary top is in place, risk stronger pullback to 0.9200/10 b4 rebound.
. Today, as Wed's 3-week high was accompanied by 'bearish divergences' on the hourly indicators, subsequent retreat suggests consolidation with downside bias wud be seen but below 0.9468 needed to extend weakness to 0.9416/20.
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