DAILY USD/CHF TECHNICAL OUTLOOKLast Update At 29 Oct 2015 00:03GMT
Trend Daily Chart
Sideways
Daily Indicators
Rising
21 HR EMA
0.9888
55 HR EMA
0.9852
Trend Hourly Chart
Up
Hourly Indicators
Bearish divergences
13 HR RSI
68
14 HR DMI
+ve
Daily Analysis
Resumption of recent upmove
Resistance
1.0064 - Equality of 0.9257-0.9844 fm 0.9477
1.0000 - Psychological res
0.9958 - Y'day's high
Support
0.9903 - Aug's high (now sup)
0.9876 - Tue's high (now sup)
0.9821 - Y'day's low
. USD/CHF - 0.9825...Despite edging lower in Asia n Europe y'day n hitting session lows of 0.9821 in NY afternoon, the greenback surged to a 7-month peak at 0.9958 after Fed statement said a Dec rate hike is still possible.
. Let's look at the bigger picture 1st, dlr's firm break of Aug's 0.9903 peak to 0.9958 Wed confirms the early erratic rise fm May's trough at 0.9072 has finally resumed n price is now en route to psychological target at 1.000 n then twd 1.0129 (Mar high) in later part of Nov. Therefore, in view of abv bullish analysis, buying dlr on dips for a resumption of upmove to indicated targets is the way to go. Having said that, anticipated bearish divergences on hourly indicators would prevent strg gain this week n reckon res 1.0064 (equality measurement of 0.9257-0.9844 measured fm 0.9477) wud hold initially n yield a much-needed correction. Below 0.9821 wud be the 1st sign that a temp. top has been made n yield stronger retracement twds 0.9857 b4 recovery.
. Today, although price has eased after y'day's rally to 0.9958, reckon 0.9876 (Tue's high, now sup) would contain pullback n yield resumption of recent upmove for a re-test of said res, then 1.0000. Below 0.9876 may risk 0.9821/26.
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