DAILY USD/CHF TECHNICAL OUTLOOKLast Update At 17 Feb 2016 01:00GMT
Trend Daily Chart
Down
Daily Indicators
Turning up
21 HR EMA
0.9878
55 HR EMA
0.9851
Trend Hourly Chart
Near term up
Hourly Indicators
Easing fm o/bot
13 HR RSI
66
14 HR DMI
+ve
Daily Analysis
Consolidation with upside bias
Resistance
0.9985 - Feb 5 high
0.9959 - 50% r of intermediate fall of 1.0257-0.9661
0.9911 - Last Mon's NY afternoon high
Support
0.9847 - Y'day's low
0.9820 - Last Thur's high (now sup)
0.9791 - Last Fri's high (now sup)
. USD/CHF - 0.9892... Despite dlr's retreat after a brief rise abv Mon's 0.9888 high to 0.9893 in Asia, renewed buying at 0.9847 in European morning pushed price higher to 0.9896 in NY morning, then .... near NY closing.
. Looking at the hourly and daily charts, although dlr's selloff fm Jan's high at 1.0257 n then subsequent breach of key daily sup at 0.9786 (2015 Dec trough) to 0.9661 last week confirms the MT erratic fall fm 2015 4-year peak at 1.0330 has resumed, Fri's rally to 0.9791 n then 0.9896 y'day signals temporary low has been formed and a few days of consolidation would be seen, above 0.9888 would bring stronger retracement to 0.9959, this is the natural 50% r of intermediate fall of 1.0257-0.9661, however, as hourly indicators have displayed 'bearish divergences',strg gain beyond there is not likely and chart res at 0.9985 (Feb 5 high) would cap upside and yield strong retreat later this week.
. Today, as long as 0.9847 (y'day's low) holds, another leg of correction twd 0.9959 is envisaged n therefore, buying dlr on dips is favoured, however, daily res at 0.9985 (Feb 5 high) should hold. On the downside, only a daily close below 0.9847 indicates top has been made n brings weakness twd 0.9791/93.http://www.acetraderfx.com
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