Daily Technical Outlook on Major - USD/CHF

     DAILY USD/CHF TECHNICAL OUTLOOK
Last Update At 07 Dec 2018 01:15GMT

Trend Daily Chart
Sideways

Daily Indicators
Bearish divergences

21 HR EMA
0.9978

55 HR EMA
0.9977

Trend Hourly Chart
Sideways

Hourly Indicators
Oversold

13 HR RSI
43

14 HR DMI
+ve

Daily Analysis
Choppy consolidation to continue

Resistance
1.0036 - Nov 15th low (now res)
1.0009 - Wed's high
0.9958 - Y'day's Asian low (now res)

Support
0.9874 - 61.8% proj. of 1.0128-0.9909 fm 1.0009
0.9848 - Oct 15th low
0.9835 - 50% r fm 0.9542-1.0128

. USD/CHF - 0.9927.. Dlr initially retreated to 0.9958 in Asia y'day n despite rebounding to 0.9990 in European morning, price met renewed selling n tumbled a 6-week low at 0.9905 on selloff in U.S. equities b4 recovering.

. On the bigger picture, dlr's rally fm 2018 31-month trough of 0.9188 in mid-Feb to as high as 1.0068 in Jul, then gain to a 20-mth peak at 1.0128 mid- Nov confirms downtrend fm 2016 6-year peak at 1.0344 has made a low. Dlr's resumption of said uptrend fm 0.9188 is en route to next obj. at 1.0171 (2017 Mar top), however, 'bearish divergences' on daily indicators are likely to cap price below 2016 6-year peak at 1.0344 this month. On the downside, dlr's drop to a 6- week low at 0.9895 y'day signals temporary top has been made, as long as sup at 0.9848 holds, another strg rebound is likely later. A daily close abv 1.0009 would suggest pullback is over n head back twd 1.0128. Below 0.9848, 0.9766.

. Today, y'day's break of Nov's 0.9909 low suggests recent fall fm 2018 top at 1.0128 has once again resumed, however, as price has rebounded, consolidation is seen b4 weakness to 0.9863, as hourly oscillators' readings will be in o/sold territory, reckon daily 0.9848 sup would hlold. Abv 0.9990, 1.0006/09.

USDCHF

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