WEEKY USD/CHF TECHNICAL OUTLOOKLast Update At 16 Nov 2015 02:12GMT
Trend Daily Chart
Up
Daily Indicators
Rising
21 HR EMA
1.0057
55 HR EMA
1.0045
Trend Hourly Chart
Sideways
Hourly Indicators
Bearish divergences
13 HR RSI
58
14 HR DMI
+ve
Daily Analysis
Consolidation b4 marginal rise
Resistance
1.0146 - 61.8% proj. of 0.9836-1.0089 fm 0.9990
1.0129 - Mar high (12)
1.0095 - Last Fri's fresh 7-1/2 month high
Support
1.0045 - Last Fri's European morning high (now sup)
0.9990 - Last Thur's low
0.9945 - Nov 03 low
. USD/CHF - 1.0071.. Dollar continued its recent winning streak last week n climbed to a fresh 7-1/2 month peak of 1.0089 on Tue. Price ratcheted lower to 0.9990 Thur b4 rising to 1.0095 Fri in NY b4 retreating.
. On the daily chart, although last Fri's retreat fm a fresh 7-1/2 month high of 1.0095 suggests initial consolidation is in store this week, as long as 0.9980/90 sup holds, outlook remains mildly bullish for resumption of MT upmove fm 0.9072 (May low) n yields re-test of key daily res at 1.0129, however, as the hourly indicators would display prominent 'bearish divergences' on such a move, reckon 2015 peak at 1.0240 would remain intact n bring a much-needed correction. On the downside, a daily close below 0.9945 would confirm temporary top is made n risk stronger retracement twd 0.9884 b4 prospect of rebound.
. Today, although dlr's intra-day retreat fm Fri's 1.0095 high near NY close suggests initial choppy consolidation with near term downside bias is in store in Asia, as long as 0.9990/99 sup holds, marginal gain twd indicated obj. at 1.0129 is still envisaged, prominent 'bearish divergences' on hourly indicators on such a move should cap price at 1.0146 n bring correction.
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