DAILY USD/CHF TECHNICAL OUTLOOKLast Update At 24 Jul 2015 00:36GMT
Trend Daily Chart
Up
Daily Indicators
Rising
21 HR EMA
0.9586
55 HR EMA
0.9589
Trend Hourly Chart
Sideways
Hourly Indicators
Rising
13 HR RSI
55
14 HR DMI
+ve
Daily Analysis
Consolidation with upside bias
Resistance
0.9719 - Apr 23 high
0.9697 - 100% measure. of 0.9150-0.9517 fm 0.9333
0.9651 - Tue's high
Support
0.9526 - Y'day's low
0.9503 - Reaction low fm 0.9550
0.9475 - Hourly res (now sup)
. USD/CHF - 0.9594... The greenback remained under pressure in Asia y'day n briefly tumbled to session low at 0.9526 in European morning on euro's rally, however, price later rose to 0.9604 on upbeat US data n buying in eur/chf cross.
. As mentioned in previous update, last week's rally abv May's 0.9545 high confirms erratic upmove fm 0.9072 (May low) has resumed after 1-1/2 months of sideways trading n price is en route to 0.9725, this is the 'dynamic' 61.8% r of recent fall fm 1.0129 (Mar high), abv there would encourage for further headway twd next chart obj. at 0.9863 (Apr high). Having said that, dlr's strg retreat fm 0.9651 to 0.9526 y'day suggests aforesaid rise fm 0.9072 has made a temporary top there n several days of consolidation is in store b4 prospect of upmove to indicated upside targets later. Therefore, buying on dips is favoured n only a daily close below 0.9503 sup would risk stronger retracement to 0.9430, this is a 'minimum' 38.2% r of said rise fm 0.9072 but 0.9330 should hold.
. Today, dlr's erratic rise fm 0.9526 to 0.9604 near NY close suggests the pullback fm 0.9651 has possibly ended, abv 0.9633 would add credence to this view n yield re-test of 0.9651, then twd next chart obj. at 0.9719 next week.
_20150724065637.png "chf")
Recommended Content
Editors’ Picks
AUD/USD: Further losses retarget the 200-day SMA
Further gains in the greenback and a bearish performance of the commodity complex bolstered the continuation of the selling pressure in AUD/USD, which this time revisited three-day lows near 0.6560.
EUR/USD: Further weakness remains on the cards
EUR/USD added to Tuesday’s pullback and retested the 1.0730 region on the back of the persistent recovery in the Greenback, always against the backdrop of the resurgence of the Fed-ECB monetary policy divergence.
Gold flirts with $2,320 as USD demand losses steam
Gold struggles to make a decisive move in either direction and moves sideways in a narrow channel above $2,300. The benchmark 10-year US Treasury bond yield clings to modest gains near 4.5% and limits XAU/USD's upside.
Bitcoin price dips to $61K range, encourages buying spree among BTC fish, dolphins and sharks
Bitcoin (BTC) price is chopping downwards on the one-day time frame, while the outlook seen in the one-week period is a horizontal trade. In this shakeout moment, data shows that large holders are using the correction to buy up BTC.
Navigating the future of precious metals
In a recent episode of the Vancouver Resource Investment Conference podcast, hosted by Jesse Day, guests Stefan Gleason and JP Cortez shared their expert analysis on the dynamics of the gold and silver markets and discussed legislative efforts to promote these metals as sound money in the United States.