DAILY USD/CHF TECHNICAL OUTLOOKLast Update At 05 Jan 2016 00:26GMT
Trend Daily Chart
Sideways
Daily Indicators
Falling
21 HR EMA
1.0010
55 HR EMA
0.9979
Trend Hourly Chart
Up
Hourly Indicators
Bearish divergences
13 HR RSI
59
14 HR DMI
+ve
Daily Analysis
One more rise b4 retreat
Resistance
1.0179 - 02 Dec low (now res)
1.0122 - 61.8% r of 1.0330-0.9786
1.0065 - Y'day's high
Support
0.9999 - Prev. hourly res (now sup)
0.9969 - Hourly sup
0.9924 - Y'day's low
. USD/CHF - 1.0027... Despite dlr's initial selloff fm Asian 1.0027 high 1.0027 to 0.9924 in European morning due buying of chf on risk aversion, price rallied to a fresh 1-month high at 1.0065 in NY on usd's broad-based rally.
. Let's look at the daily chart 1st, despite dlr's early resumption of fall fm 2015 fresh 4-year top at 1.0330 (Nov) to a 6-week low of 0.9786 in Dec, subsequent rebound to 0.9991 suggests a temp. low has been formed n last week's break of 0.9991 to 1.0031, then 1.0065 y'day signals 1st leg of correction is over n consolidation with upside bias is seen for gain twd 1.0122 (being 61.8% r of 1.0330-0.9786), however, as hourly oscillators' readings would display 'bearish divergences' on next rise, reckon 1.0184 (1.618 times extension of 0.9786--0.9991 measured fm 0.9852) wuuld hold n yield decline. Below 0.9924 anytime would confirm correction is over n yield re-test of 0.9786 later this month.
. Today, as current price is trading abv the 21-hour & 55-hour emas, suggesting intra-day upside bias remains for marginal
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