chf   WEEKLY USD/CHF TECHNICAL OUTLOOK

Last Update At 18 Jan 2016 00:10GMT


Trend Daily Chart

Sideways


Daily Indicators

Neutral


21 HR EMA

1.0019


55 HR EMA

1.0031


Trend Hourly Chart

Sideways


Hourly Indicators

Turning up


13 HR RSI

47


14 HR DMI

-ve


Daily Analysis

Choppy consolidation to continue


Resistance

0.9958 - Last Fri's low

0.9922 - 07 Jan low

0.9881 - Last Mon's low


Support

1.0107 - Last Wed's high

1.0094 - Last Thur's high

1.0061 - Last Fri's high


USD/CHF - 1.0017... Despite briefly spiking down to 0.9881 last Mon, the greenback rallied to 1.0107 on Wed on improved risk sentiment, however, dlr pared its gains n retreated sharply to 0.9958 on Fri b4 stabilising.


. Looking at the the bigger picture 1st, dlr's rally fm Dec's 6-week low at 0.9786 to 1.0126 in Jan suggests the corrective decline fm Nov's 4-year peak at 1.0330 has ended there n gain to 1.0226 (prev. sup, now res) wud be seen later this month. Having said that, last week's retreat after holding below res 1.0126 suggests consolidation with downside bias wud be seen n weakness twds 0.9881 is envisaged. Below wud indicate the correction fm 0.9786 has ended instead n retain bearishness for 0.9854. Therefore, selling on pullback is favored n only abv 1.0107 wud signal the pullback fm 1.0126 wud revive bullishness for gain twds 1.0179 (prev. sup, now res).


. Today, in view of abv analysis, we are selling on pullback for 0.9960 n wud look to exit on next decline as sup 0.9922 shud remain intact today n yield rebound. On the upside, only abv 1.0090/94 wud abort daily bearishness n risk gain twds 1.0107 but res 1.0126 shod limit upside.

chf

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