DAILY USD/CHF TECHNICAL OUTLOOKLast Update At 21 Aug 2014 00:51GMT
Trend Daily Chart
Up
Daily Indicators
Bearish divergences
21 HR EMA
0.9119
55 HR EMA
0.9099
Trend Hourly Chart
Up
Hourly Indicators
Getting o/bot
13 HR RSI
74
14 HR DMI
+ve
Daily Analysis
Resumption of MT uptrend
Resistance
0.9183 - 61.8% proj. of 0.8857-0.9115 fm 0.9024
0.9156 - Jan 21 peak
0.9139 - Y'day's high
Support
0.9095 - Tue's high (now sup)
0.9058 - Tue's low
0.9024 - Last Fri's low
. USD/CHF - 0.9138... The greenback traded with a firm bias in Asia y'day n ratcheted higher to 0.9117 in Europe b4 rallying to a fresh 7-month peak at 0.9139 in NY afternoon after the release of mildly hawkish FOMC minutes.
. Looking at the hourly n daily charts, y'day's firm breach of previous Aug's high at 0.9115 confirms the 3-legged MT upmove fm Mar's 2-1/2 year trough at 0.8698 has finally resumed n as price is currently trading abv the 21-hour & 55-hour emas, dlr shud re-test 2014 peak at 0.9156 (Jan 21) today. Abv said over head res wud extend further gain, however, as hourly oscillators wud be in o/bot territory on such move, reckon 0.9183, being a 61.8% projection of intermediate rise fm 0.8857-0.9115 measured fm 0.9024, may hold on 1st testing Looking ahead, dlr is en route twd next chart obj. at 0.9251. On the downside, only below 0.9095 (Tue's high) wud be the 1st signal a temporary top is made n risk stronger correction twd 0.9058, however, 0.9024 (last Fri's low) shud remain intact.
. Today, in view of abv bullish analysis, we're buying dlr on minor pullback is strongly recommended for gain to 0.9175, however, wud be prudent to take profit on subsequent rise.
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