Daily Technical Outlook on Major - USD/CHF
|
Last Update At 18 Jan 2018 01:33GMT
Trend Daily Chart
Sideways
Daily Indicators
Falling
21 HR EMA
0.9631
55 HR EMA
0.9636
Trend Hourly Chart
Down
Hourly Indicators
Rising
13 HR RSI
54
14 HR DMI
+ve
Daily Analysis
Initial rise b4 retreat
Resistance
0.9732 - Last Thur's low (now res)
0.9700 - Prev. Jan's low (now res)
0.9685 - This week's high (Mon)
Support
0.9603 - Mon's low
0.9573 - Y'day's near 4-month low
0.9553 - Jun 2017 low
-
USD/CHF - 0.9642.. Despite continuing its recent losing streak n hitting a near 4-month low of 0.9573 at Asian open, dlr rebounded to 0.9651 b4 re-testing 10.9573, rally in U.S. stocks later sent price to session highs of 0.9659.
-
On the bigger picture 1st, despite dlr's resumption of downtrend fm 2016 6-year peak at 1.0344 (Dec) to a fresh 2-year bottom of 0.9421 in Sep, subse- quent rally abv Aug's 0.9773 high to a 5-month peak at 1.0038 in Oct confirms aforesaid decline fm 1.0344 has made a low there. Having said that, dlr's fall to 0.9700 initially in Jan n last Fri's break of this sup signals upmove fm 0.9421 has made a top n would head twds 0.9421 later this month or Feb. Therefore, selling dlr again on recovery is the way to go n only a daily close only abv 0.9700 (pre. Jan's low, now res) would signal temporary bottom is made n may risk stronger retracement twds 0.9771.
-
Today, dlr's rally fm 0.9573 to 0.9659 in NY on Wed, then 0.9669 in Aust. suggests recent decline has made a temp. low there as this lvl was accompanied by 'bullish convergences' on the hourly indicators, as long as 0.9603 is seen but only abv 0.9700 yields 0.9732/37.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.