DAILY USD/CHF TECHNICAL OUTLOOKLast Update At 22 Oct 2015 23:53GMT
Trend Daily Chart
Sideways
Daily Indicators
Turning up
21 HR EMA
0.9685
55 HR EMA
0.9629
Trend Hourly Chart
Up
Hourly Indicators
O/bot
13 HR RSI
79
14 HR DMI
+ve
Daily Analysis
Consolidation with upside bias
Resistance
0.9795 - 02 Oct high
0.9769 - 06 Oct high
0.9740 - Y'day's high
Support
0.9690 - Y'day's hourly sup
0.9647 - 13 Oct high (now sup)
0.9611 - Wed's high (now sup)
. USD/CHF - 0.9735... The greenback rose fm 0.9580 to 0.9636 in European morning, then surged to 0.9722 in NY morning on euro's selloff. Dlr continued to ratchet higher n hit intra-day high at 0.9740 b4 easing.
. Looking at the bigger picture, y'day's rally abv the 'dynamic' 61.8% retracement 0.9404 level of recent fall fm Sep's peak at 0.9844 to 0.9477 last Thur signals aforesaid decline has ended n consolidation with upside bias would be seen for gain twds 0.9769 (06 Oct high), then 0.9795 (02 Oct top). Having said that, as hourly oscillators wud be in o/bot territory on such move, strg gain abv there is unlikely to be seen n reckon res at 0.9816 (28 Sep top) wud remain intact n yield a much-needed retreat next week. On the downside, only below 0.9611 (prev. res, now sup) wud confirm the recovery fm 0.9477 has ended instead n turn outlook bearish for further weakness twds y'day's low at 0.9580.
. Today, in view of abv analysis we are looking to buy on dips for 0.9780 n look to exit on next rise as res 0.9795 shud remain intact today n yield correction. Only below 0.9684/90 wud indicate a temporary top is in place n risk stronger retracement twd 0.9647 (previous res, now sup).
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