DAILY USD/CHF TECHNICAL OUTLOOK
Last Update At 10 Aug 2017 00:52GMT
Trend Daily Chart
Sideways
Daily Indicators
Rising
21 HR EMA
0.9654
55 HR EMA
0.9682
Trend Hourly Chart
Down
Hourly Indicators
Rising fm o/s
13 HR RSI
41
14 HR DMI
-ve
Daily Analysis
Consoldiation with downside bias
Resistance
0.9747 - Mon's high
0.9710 - Hourly sup (now res)
0.9693 - Y'day's European res
Support
0.9613 - Y'day's low
0.9595 - Hourly res (now sup)
0.9566 - 61.8% r of 0.9438-0.9773
-
USD/CHF - 0.9644..Dlr tumbled to 0.9657 in Asia Wed on safe-haven buying of chf due to rising U.S.-N. Korea tensions. Price recovered to 0.9693 in Europe b4 dropping to session low of 0.9613 n later recovered to 0.9671 in NY morning.
-
Looking at the daily chart, despite dlr's early brief break of 2016 low at 0.9444 to a 22-month bottom of 0.9438 in Jul, subsequent cross-inspired rally abv 0.9553 (Jun' low) to 0.9793 on Tue confirms MT fall fm 1.0344 (2016 6-year peak in Dec) has made a low there as this lvl was also accompanied by 'bullish convergences' on the daily indicators. Having said that, y'day's selloff to as low as 0.9613 on risk aversion signals 1st leg of correction fm Jul's 22-month trough at 0.9438 has ended there n consolidation with downside bias would be seen for weakness to 0.9566, being the 61.8% retracement of aforesaid move but below sup at 0.9491 needed to indicate said correction fm 0.9438 is over.
-
Today, dlr's recovery to 0.9671 after y'day's selloff to 0.9613 would bring consolidation, reckon res at 0.9693 would cap upside n yield one more fall to 0.9595, however, as hourly indicators would display prominent 'bullish conver gences' on such move, reckon 0.9566 should hold. Abv 0.9710 may risk 0.9747.
Trendsetter does not warrant or guarantee the accuracy, timeliness or completeness to its service or information contained therein. Trendsetter does not give, whatsoever, warranties, expressed or implied, to the results to be obtained by using its services or information it provided. Users are trading on their own risk and Trendsetter shall not be responsible under any circumstances for the consequences of such activities. Trendsetter and its affiliates, in no event, be liable to users or any third parties for any consequential damages, however arising, including but not limited to damages caused by negligence whether such damages were foreseen or unforeseen.
Recommended Content
Editors’ Picks
EUR/USD trades weak below 1.0800 amid Good Friday lull, ahead of US PCE
EUR/USD continues its downward trend for the fourth consecutive day, driven by a stronger US Dollar influenced by the hawkish market sentiment surrounding the Federal Reserve and expectations of prolonged higher interest rates.
GBP/USD: The first downside target is seen at the 1.2600–1.2605 zone
GBP/USD trades on a weaker note around 1.2620 during the early European session on Friday. The decline of Pound Sterling is backed by the growing speculation that the Bank of England will begin the rate-cut cycle this year.
Gold ends Q1 2024 at record highs, what’s next?
Gold is sitting at an all-time high of $2,236, lacking a trading impetus amid holiday-thinned conditions on Good Friday. Most major world markets, including the United States are closed in observance of Holy Friday, leaving volatility around Gold price highly subdued.
Ripple's move above this key level could trigger nearly 50% rally for XRP
Ripple price has overcome a critical resistance level and flipped into a support floor on the weekly time frame. This development happened while XRP tightly consolidated for roughly 250 days.
US core PCE inflation set to ease in February on month as Federal Reserve rate cut bets for June mount
The core Personal Consumption Expenditures Price Index is set to rise 0.3% MoM and 2.8% YoY in February. The revised Summary of Projections showed that policymakers upwardly revised end-2024 core PCE forecast to 2.6% from 2.4%.