DAILY USD/CHF TECHNICAL OUTLOOKLast Update At 05 Nov 2015 23:42GMT
Trend Daily Chart
Up
Daily Indicators
Rising
21 HR EMA
0.9953
55 HR EMA
0.9935
Trend Hourly Chart
Up
Hourly Indicators
Turning down
13 HR RSI
52
14 HR DMI
+ve
Daily Analysis
Consolidation b4 uptrend resumes
Resistance
1.0064 - Equality of 0.9257-0.9844 fm 0.9477
1.1000 - Psychological res
0.9980 - Y'day's 7-month high
Support
0.9922 - Y'day's high
0.9885 - Y'day's low
0.9836 - Mon's low
. USD/CHF - 0.9954... The greenback rose fm Asian low at 0.9922 to a fresh 7-month high at 0.9980 in European morning, however, profit-taking pushed the pair lower to 0.9942 in NY morning b4 staging another rebound.
. On the bigger picture, dlr's rally abv Aug's 0.9903 high to a 7-month peak of 0.9958 last Wed n y'day's breach of said lvl to 0.9980 confirms the early erratic upmove 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) later this month. 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 hourly indicators would display'bearish divergences' on on next rise, strong gain ahead of today's key jobs data is not expected n reckon 1.0064 would hold initially. On the downside, only below 0.9836 would dampen bullishness, risk retracement to 0.9821, 0.9757/62.
. Today, although price has eased after y'day's rally to 0.9980, reckon sup 0.9922 wud hold n bring another rise. Hence, we are buying on dips for 1.000 n only below 0.9922 wud signal a temp. top is made, risk retrace. to 0.9885.
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