Last Update At 22 Sep 2014 00:04GMT
Trend Daily Chart
Up
Daily Indicators
Rising
21 HR EMA
0.9393
55 HR EMA
0.9378
Trend Hourly Chart
Up
Hourly Indicators
Rising
13 HR RSI
60
14 HR DMI
+ve
Daily Analysis
Consolidation b4 one more rise
Resistance
0.9485 - 61.8% r of 0.9972-0.8698
0.9455 - 2013 Sep high
0.9433 - Last Thur's high
Support
0.9370 - Last fri's NY low
0.9332 - Last Thur's low
0.9301 - Last Tue's low
. USD/CHF - 0.9402... Dlr swung wildly last week. Despite ratcheting lower at the start of last week to 0.9301 on Tue, price jumped on Wed after FOMC n climbed to 0.9433 on Thur in Australia but fell to 0.8332 after SNB kept policy unchanged. Fri's selloff in eur/usd lifted the pair to 0.9411 near NY close.
. Let's look at the bigger picture 1st, despite a brief pullback fm last Thur's fresh 1-year peak of 0.9433, Fri's rebound signals correction is over n the MT 3-legged rise fm 2014 near 2-1/2 year trough at 0.8698 (Mar) to retrace LT decline fm 0.9972 (2012 high in Jul) wud head to 'dynamic' res at 0.9485, being 61.8% r of aforesaid fall, however, as hourly indicators wud display 'bearish divergences' on such a move, reckon 0.9599 (this is 70.7% r fm 0.9972) wud cap upside this week. On the downside, only a daily close below 0.9301 (last week's low on Tue) wud confirm temporary top is in place n risk stronger correct ion twd 0.9213 ( 'minimum' 38.2% r of 0.8857-0.9433).
. Today, as current price is trading abv the 21-hr & 55-hr emas, buying dlr on dips for resumption of uptrend is favoured n only below 0.9332 'prolongs' choppy consolidation below 0.9433 n risks weakness to 0.9301, then 0.9287.
Recommended Content
Editors’ Picks
EUR/USD stabilizes near 1.0800 as trading action turns subdued
EUR/USD holds steady near 1.0800 on Thursday and remains on track to end the day in negative territory following upbeat macroeconomic data releases from the US. The action in financial markets turn subdued as trading volumes thin out heading into Easter holiday.
GBP/USD extends sideways grind above 1.2600
GBP/USD fluctuates in a narrow channel above 1.2600 on Thursday. The better-than-expected Initial Jobless Claims data from the US and the upward revision to the Q4 GDP growth help the USD stay resilient against its rivals and limits the pair's upside.
Gold pulls away from daily highs, holds above $2,200
Gold retreats from daily highs but holds comfortably above $2,200 in the American session on Thursday. The benchmark 10-year US Treasury bond yield stays near 4.2% after upbeat US data and makes it difficult for XAU/USD to gather further bullish momentum.
XRP price falls to $0.60 support as Ripple ruling doesn’t help Coinbase lawsuit against SEC
XRP programmatic sales ruling by Judge Torres was completely rejected by another US Court that ruled in favor of the SEC in a lawsuit against Coinbase.
Portfolio rebalancing and reflation trades emerge into Q2
Yesterday’s price action pointed at a possible end-of-quarter portfolio rebalancing as the session saw the laggards of the quarter like Apple and Tesla gain, and the stars like Microsoft and Nvidia retreat.