Last Update At 12 Jul 2019 01:09GMT

Trend Daily Chart

Daily Indicators
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Trend Hourly Chart

Hourly Indicators



Daily Analysis
Choppy consolidation to continue

0.9951 - Tue's 2-1/2 week high
0.9927 - Wed's NY high
0.9910 - Hourly res

0.9888 - Wed's low
0.9835 - Last Wed's low
0.9814 - Jun 27 high (now sup)

  • USD/CHF - 0.9897.. Although dlr continued Wed's selloff ahead of Asian open n weakened to 0.9855 in Asia y'day, price later hit session lows of 0.9848 at NY open but then n rallied to 0.9905 on upbeat U.S. CPI n rising yields. 

  • On the bigger picture, dlr's rally fm 2018 31-month trough of 0.9188 in mid-Feb to a 2-year peak at 1.0238 in Apr this year confirms downtrend fm 2016 6-year peak at 1.0344 has made a low. Although subsequent erratic fall to 1.0002 (May), then selloff to 0.9695 in late Jun suggests said rise fm 0.9188 has made a temp. top there, having said that, dlr's subsequent rally to 0.9932 last Fri after upbeat U.S. jobs data indicates said decline has made a low n consolidation with upside bias remains for gain to 1.0014 target, a daily close abv there would encourage for further headway twd 1.0124.On the downside, below 0.9814 sug gests rebound is over n risks re-test of 0.9695.

  • Today, despite resumption of recent upmove to 0.9951 on Tue, as this level was also accompanied by 'bearish divergences' on hourly indicators, subsequent drop to 0.9848 y'day signals long-awaited correction has occurred n would head to 0.9823 (61.8% r fm 0.9695). Only abv 0.9927/32 risks re-test of 0.9951.


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