DAILY USD/CHF TECHNICAL OUTLOOK
Last Update At 29 Apr 2016 00:22GMT
Trend Daily Chart
Sideways
Daily Indicators
Rising
21 HR EMA
0.9677
55 HR EMA
0.9699
Trend Hourly Chart
Sideways
Hourly Indicators
Getting o/sold
13 HR RSI
35
14 HR DMI
-ve
Daily Analysis
Consolidation with downside bias
Resistance
0.9797 - Last Fri's high
0.9767 - Tue's high
0.9734 - Y'day's high
Support
0.9656 - Y'day's low
0.9648 - Last Thur's low
0.9585 - Last Tue's low
. USD/CHF - 0.9670... Despite rebound to session high at 0.9734 in Asia, the greenback tumbled on dlr's weakness post BoJ's decision n hit intra-day low at 0.9656 in Europe. Later, price recovered to 0.9698 in NY b4 retreating again.
. Looking at the hourly n daily charts, despite last week's strg rebound to 0.9797 on Fri, subsequent retreat strongly suggests the correction fm Apr's 5-month trough at 0.9498 has ended there n consolidation with downside bias would be seen, a daily close below sup at 0.9648 (last Thur low) would confirm this view n extend weakness twds last Tue's low at 0.9585 early next week. Having said that, as broad outlook remains consolidative, reckon aforesaid trough would remain intact on 1st testing n yield a rebound later. On the upside, only above 0.9797 would revive bullishness for a stronger retracement of MT downtrend fm 2015 4-year peak at 1.0330 (Nov) twds 0.9849.
. Today, in view of above analysis, we are selling on pullback for 0.9612 (61.8% r of 0.9498-0.9797) n would look to exit on next decline as pivotal sup at 0.9585 would hold. Only abv 0.9755 (Wed's high) would indicate pullback fm 0.9797 is over instead n turn outlook bullish for gain twds 0.9767._20160429070434.png)
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