DAILY USD/CHF TECHNICAL OUTLOOKLast Update At 01 Dec 2015 00:10GMT
Trend Daily Chart
Up
Daily Indicators
Rising
21 HR EMA
1.0265
55 HR EMA
1.0256
Trend Hourly Chart
Up
Hourly Indicators
Falling
13 HR RSI
64
14 HR DMI
+ve
Daily Analysis
One more rise b4 correction
Resistance
1.0456 - 50% proj. of 0.7360-1.0129 fm 0.9072
1.0389 - 1.618 time ext. of 1.0143-1.0261 fm 1.0198
1.0330 - Last Fri's fresh 4-year high
Support
1.0261 - Last Wed's high (now sup)
1.0226 - Last Fri's European low
1.0198 - Last Wed's NY low
. USD/CHF - 1.0290... Despite rallying to a fresh 4-year peak of 1.0330 last Fri, dlr traded narrowly in Asia n Europe, active cross unwinding in CHF, knocked price lower to 1.0259 in NY afternoon b4 staging a rebound.
. On the bigger picture, last week's rally abv prev. Jan's 4-year peak at 1.0240 to 1.0261 on Wed, then 1.0330 Fri has justified our recent bullish stance on the greenback, as this move confirms MT uptrend fm Jan's 40-month trough at 0.7360 has resumed n price is en route twd 1.0456 later this week, this is 50% projection of aforesaid rise fm 0.7360-1.0129 measured fm 0.9072 in Dec. Current rising daily technical indicators suggest buying dlr again on dips is the way to go n only a daily close below 1.0198 would be the 1st signal temporary top is in place n risk stronger correction to 1.0143/44, however, reckon 1.0095 (previous res, now sup) would contain weakness n bring rebound.
. Today, although Mon's retreat suggests further consolidation below 1.0330 top would continue, as long as Mon's 1.0259 low holds, outlook remains mildly supportive for a resumption of LT uptrend to 1.0360, as hourly indicators would display 'bearish divergences', 1.0389 should cap upside. Below 1.0259, 1.0226.
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