Daily Technical & Trading Outlook USD/CHF
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Last Update At 13 Sep 2016 00:03GMT
Trend Daily Chart
Sideways
Daily Indicators
Neutral
21 HR EMA
0.9731
55 HR EMA
0.9734
Trend Hourly Chart
Sideways
Hourly Indicators
Falling
13 HR RSI
40
14 HR DMI
-ve
Daily Analysis
Choppy consolidation to continue
Resistance
0.9818 - Sep 02 high
0.9785 - Last Fri's high
0.9763 - Y'day's high
Support
0.9711 - Last Fri's low
0.9651 - Last week's (Thur) low
0.9631 - 26 Aug low
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USD/CHF - 0.9719... The greenback remained under pressure on Mon partly on selling in eur/chf cross as global stocks fell. Price weakened to 0.9731 in Europe n recovered to 0.9762 but only to tumble to 0.9691 in NY b4 stabilising.
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On the daily chart, despite dlr's early fall fm Jul's peak of 0.9951 to 0.9538 in Aug, subsequent strg rebound to 0.9885 at the start of Sep signals the 2-month long broad sideways price swings following the early rise fm 2016 bottom at 0.9444 (May) to 0.9956 would continue. Having said that, dlr's said decline fm 0.9885 to 0.9651 last Thur n then rebound to 0.9785 Fri suggests further vola tile sideways swings would continue this week, only below 0.9651 would yield weakness twd 0.9538 later this month. On the upside, a daily close abv 0.9818 res would bring re-test of 0.9951, then 0.9956.
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Today, despite Mon's broad-based weakness in the usd on cross-selling in eur/chf to 0.9691 following Fed Brainard's dovish comments, subsequent minor rebound suggests consolidation is in store, abv 0.9762/63 res any time would sig nal pullback fm Fri's 0.9785 high has ended, then nr term rise fm 0.9651 would head to 0.9918. Only below 0.9691 may risk weakness to 0.9870 n possibly 0.9651.
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