Daily Technical & Trading Outlook USD/CHF

  DAILY USD/CHF TECHNICAL OUTLOOK
Last Update At 29 Dec 2015 00:05GMT

Trend Daily Chart
Sideways

Daily Indicators
Falling

21 HR EMA
0.9878

55 HR EMA
0.9880

Trend Hourly Chart
Sideways

Hourly Indicators
Neutral

13 HR RSI
55

14 HR DMI
+ve

Daily Analysis
Consolidation with downside bias

Resistance
0.9969 - Last Mon's high
0.9946 - Last Wed's high
0.9919 - Hourly chart

Support
0.9852 - Last Fri's low
0.9811 - Last Wed's low
0.9786 - Dec's 6-week low (14th)

. USD/CHF - 0.9883... Despite edging lower to 0.9853 at Asian open Mon, renewed buying abv last Fri's 0.9852 low lifted price to 0.9890 at European openn dlr briefly spiked up to session high of 0.9902 in NY morning b4 retreating.

. On the bigger picture, despite resumption of fall fm 2015 fresh 4-year top at 1.0330 (Nov) to a 6-week low of 0.9786 in Dec, broad-based short-covering in dlr lifted the pair to 0.9991 after a quarter-point Fed rate hike, suggesting aforesaid fall fm 1.0330 has formed a temporary low n consolidation in in store this week. As long as 0.9786 low holds, another bounce twd next daily chart obj. at 1.0036 is still likely later, however, as hourly indicators would display 'bearish divergences' on such rise, 1.0058 (being 50% r of 1.0330-0.9786) would cap upside n yield another decline. On the downside, below 0.9786 would extend weakness twd 0.9701 (50% r of intermediate rise fm 0.9072-1.0330).

. Today, dlr's intra-day retreat fm 0.9902 on Mon suggests recovery is possibly over n below 0.9852 would extend erratic fall fm 0.9991 to 0.9925 target, 'bullish convergences' on hourly indicators should keep price abv pivotal sup at 0.9811. Abv 0.9914/19 may risk stronger gain twd 0.9946 but 0.9969 should hold.