DAILY USD/CHF TECHNICAL OUTLOOK
Last Update At 15 Feb 2018 04:25GMT
Trend Daily Chart
Rising fm o/s
21 HR EMA
55 HR EMA
Trend Hourly Chart
13 HR RSI
14 HR DMI
Consolidation with downside bias
0.9409 - Last Fri's high
0.9375 - Y'day's high
0.9326 - Hourly chart
0.9271 - Intra-day low
0.9256 - Feb's 2-year low (1st)
0.9204 - 38.2% r of 0.7360-1.0344
USD/CHF - 0.9283.. Despite initial weakness to 0.9307 in Asia on Wed, price erased intra-day losses n rallied to session highs of 0.9375 in NY after strg U.S. CPI data before tumbling to 0.9286 on renewed selling in the dlr.
On the bigger picture 1st, despite dlr's impressive rally fm 2017 2-year low bottom at 0.9421 to as high as 1.0038 (Oct), subsequent selloff to 0.9700 at the start of Jan, then last week's fall to a fresh 2-year trough of 0.9256 con- firms the downtrend fm 2016 6-year peak at 1.0344 has finally resumed n would pressure price to head twds 0.9204 (38.2% r of 0.7360-1.0344). Having said that, last week's stronger-than-expected rise to 0.9470 on Thur confirms temporary low has been made n gain to 0.9502 is likely but reckon 0.9567 would cap upside (38.2% r n 50% r respectively of 0.9846-0.9290). Having said that, y'day's fall to 0.9286 suggests correction fm 0.9256 has ended n price would head to 0.9204 , being a min. 38% r of LT rise fm 0.7360-1.0344 n only abv 0.9409 risks 0.9470.
Today, as current price is trading below 21-hr n 55-hr emas, suggesting downside bias remains for re-test of 0.9256, o/sold readings on the hourly indicators would limit weakness to 0.9200/05 n 0.9175 should hold.
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