DAILY USD/CHF TECHNICAL OUTLOOK
Last Update At 08 Dec 2017 00:53GMT
Trend Daily Chart
21 HR EMA
55 HR EMA
Trend Hourly Chart
Near term up
13 HR RSI
14 HR DMI
Consolidation b4 one more rise
1.0088 - 50% proj. of 0.9421-1.0038 fm 0.9779
1.0038 - Oct high (27th)
0.9987 - Nov 13 high
0.9908 - Wed's high
0.9877 - Wed's NY low
0.9838 - Tue's low
USD/CHF - 0.9949.. Dlr continued this week's winning streak on Thur. Des pite initial brief drop to 0.9877 (AUS), buying interest quickly emerged n pushed price to 0.9941 in NY morning, then later to session highs of 0.9947.
Looking at the bigger picture, despite dlr's resumption of its downtrend fm 2016 6-year peak at 1.0344 (Dec) to a fresh 2-year trough of 0.9421 in Sep, subsequent rally abv Aug's 0.9773 high to a 4-month peak at 0.9837 in early Oct n then rise to a fresh 5-month peak at 1.0038 in Oct confirms aforesaid fall fm 1.0344 has made a low there. However, dlr's weakness to 0.9735 last Fri signals said upmove fm 0.9421 has made a top n downside bias remains for weakness to 0.9657, being a 'dynamic' 61.8% r of aforesaid move but reckon 0.9602 (70.7% r) should hold on 1st testing n yield rebound. On the upside, only a daily close abv 0.9987 suggests correction is possibly over n risks gain twds 1.0038.
Today, as current price is trading abv 21-hr n 55-hr emas, suggesting intra-day upside bias remains for gain twd next chart obj. at 0.9987, as hourly oscillators' reading are in o/bot territory, reckon 1.0038 should hold. Below 0.9908/12 sup area signals temp. top is made n yields 0.9877, break, 0.9838.
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