DAILY USD/CHF TECHNICAL OUTLOOKLast Update At 16 Oct 2015 00:25GMT
Trend Daily Chart
Sideways
Daily Indicators
Falling
21 HR EMA
0.9510
55 HR EMA
0.9530
Trend Hourly Chart
Sideways
Hourly Indicators
Turning up
13 HR RSI
50
14 HR DMI
+ve
Daily Analysis
Consolidation with mild upside bias
Resistance
0.9647 - Tue's high
0.9613 - Tue's NY res
0.9553 - Y'day's high
Support
0.9514 - Y'day's European res (now sup)
0.9477 - Y'day's low
0.9429 - 70.7% r of 0.9257-0.9844
. USD/CHF - 0.9515... Despite trading sideways n briefly falling to session low at 0.9477 in European morning, the greenback rose to intra-day high at 0.9553 on upbeat U.S. inflation n jobless claims data b4 retreating to 0.9485.
. Looking at the bigger picture, last week's firm breach of 0.9645 (post-NFP low) confirms early upmove fm Aug's 0.9257 trough has made a top at 0.9844 in Sep n consolidation with downside bias remains for further weakness twd sup area 0.9429/34, however, only below pivotal sup at 0.9384 would suggest aforesaid correction is over n yield re-test of 0.9257 later this month. Therefore, selling dlr on recovery in anticipation of decline to indicated downside targets is recommended n only abv 0.9613 would indicate pullback fm 0.9844 is over n turn outlook bullish for further gain twd 0.9647, then twd res area 0.9730/40 later this month.
. Today, y'day's strg rebound fm a 6-week low of 0.9477 to 0.9553 suggests fall fm 0.9844 has made a temp. low there, we are holding a long position for retracement twd 0.9587 (last Fri's low, now re). However, one shud look to exit on next rise as res 0.9613 shud remain intact n bring another retreat later.
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