WEEKLY USD/CHF TECHNICAL OUTLOOKLast Update At 01 Nov 2015 23:34GMT
Trend Daily Chart
Up
Daily Indicators
Rising
21 HR EMA
0.9878
55 HR EMA
0.9882
Trend Hourly Chart
Sideways
Hourly Indicators
Neutral
13 HR RSI
45
14 HR DMI
-ve
Daily Analysis
Choppy trading to continue
Resistance
0.9958 - Last Wed's 7-month high
0.9933 - Prev. hourly sup (now res)
0.9910 - Last Fri's high
Support
0.9846 - Last Fri's low
0.9821 - Last Fri's low
0.9774 - 38.2% r of 0.9477-0.9858
. USD/CHF - 0.9868... Dlr continued its recent winning streak last week n rallied abv Aug's high of 0.9903 to 0.9958 on Wed after Fed's hawkish statement, however, profit-taking sent price lower n price later fell to 0.9846 in NY Fri.
. On the bigger picture, dlr's rally abv Aug's 0.9903 high to a 7-month peak of 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 1.0000 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 said upside targets is the way to go. Having said that, as 0.9958 high was accompanied by 'bearish divergences' on the hourly indicators, subsequent fall to 0.9846 Fri signals a temporary top is made n a few days of consolidation is in store with downside bias, however, reckon 0.9774 (38.2% r of 0.9477-0.9958) would contain pullback n yield resumption of upmove later this week.
. Today, dlr's minor rebound fm 0.9846 suggests 1st leg of correction fm 0.9958 has ended n consolidation with upside bias is seen, however, abv 0.9958 needed to extend to 0.9980/90 n only below 0.9806/21 dampens bullishness.
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