Daily USD/CHF TECHNICAL OUTLOOKLast Update At 27 Jan 2016 00:07GMT
Trend Daily Chart
Sideways
Daily Indicators
Rising
21 HR EMA
1.0165
55 HR EMA
1.0147
Trend Hourly Chart
Up
Hourly Indicators
Bearish divergences
13 HR RSI
56
14 HR DMI
+ve
Daily Analysis
Choppy consolidation to continue
Resistance
1.0276 - 2015 Dec 03 high
1.0226 - 2015 Nov 23 high
1.0201 - Y'day's 7-week high
Support
1.0145 - Y'day's Asian high (now sup)
1.0118 - 38.2% r of 0.9991-1.0169
1.0075 - Last Fri's Euroepan low
. USD/CHF - 1.0172... Despite dlr's retreat to 1.0118 at European open due to intra-day gain in euro, active buying in eur/chf cross sent price rallying to a 7-week peak of 1.0201 in NY b4 easing near NY close.
. Looking the bigger picture, dollar's break of previous Jan's 1.0126 high to a 7-week top of 1.0201 y'day suggests upside bias remains for recent erratic rise fm 0.9786 (Dec low) to make extend headway twd 1.0226, being 80.9% r of the MT downtrend fm 2015 4-year peak at 1.0330 (Nov top as well as daily res) to 0.9786. A daily close abv there would signal said correction has ended n gain twd 1.0330 would be seen in Feb. On the downside, a daily close below 1.018 would be the 1st signal temporary top is made n further volatile choppy trading below 1.0330 would continue, then risk would shift to the downside for weakness to 1.0053 later this week.
. Today, as said y'day's 1.0201 high was accompanied by prominent 'bearish divergences' on the hourly indicators, below 1.0145 (prev. res, now sup) would suggest temporary top is in place n yield weakness twd 1.0118, break, 1.0075/80 later. Only abv 1.0201 risks gain to 1.0226 but res at 1.0276 should cap upside.
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