Last Update At 25 Aug 2015 01:25GMT
Trend Daily Chart
Sideways
Daily Indicators
Turning down
21 HR EMA
0.9365
55 HR EMA
0.9451
Trend Hourly Chart
Down
Hourly Indicators
Rising fm o/s
13 HR RSI
41
14 HR DMI
-ve
Daily Analysis
Resumption of decline
Resistance
0.9504 - Last Fri's hourly res
0.9457 - Y'day's European res
0.9393 - Y'day's NY res
Support
0.9300 - Y'day's hourly sup
0.9257 - Y'day's low
0.9150 - 18 Jun low
. USD/CHF - 0.9341... Despite a brief rebound to 0.9457 in Europe y'day, the greenback met renewed selling interest n tumbled to a near 2-month low at 0.9257 in NY on risk aversion b4 staging a recovery to 0.9393 later.
. Looking at daily picture, y'day's selloff to 0.9257 confirms the upmove from May's bottom at 0.9072 has ended at 0.9903 in Aug n consolidation with downside bias would be seen for 0.9250, being 61.8% projection of 1.0129-0.9072 measured fm 0.9903. Below wud extend weakness marginally, however, as hourly oscillators would be in o/sold territory on such move, steep fall below there is unlikely to be seen n reckon key daily sup at 0.9150 should remain intact this week n yield a much-needed correction. Therefore, selling on recovery is favored n only abv res at 0.9457 would indicate a temporary low has been made n shift risk to the upside for a stronger retracement twd 0.9504 early next month.
. Today, although dlr has staged a recovery fm y'day's low at 0.9257 n further choppy trading is envisaged initially, reckon 0.9416 (38.2% r of near term fall fm 0.9674-0.9257) should limit upside n yield resumption of MT decline for a re-test of aforesaid sup later today.
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