DAILY USD/CHF TECHNICAL OUTLOOKLast Update At 30 Mar 2016 00:17GMT
Trend Daily Chart
Down
Daily Indicators
Falling
21 HR EMA
0.9700
55 HR EMA
0.9728
Trend Hourly Chart
Sideways
Hourly Indicators
Falling
13 HR RSI
27
14 HR DMI
-ve
Daily Analysis
Consolidation b4 decline reusmes
Resistance
0.9803 - 11 Mar low (now res)
0.9786 - Last Fri's high
0.9764 - Y'day's high
Support
0.9651 - Mar 17 low
0.9611 - 2015 Oct 21 high (now sup)
0.9553 - 61.8% r of 0.9072-1.0330
. USD/CHF - 0.9696... Despite rising fm European low at 0.9723 to session high at 0.9764 in NY morning, the greenback met renewed selling n tumbled to as low as 0.9662 in NY afternoon on dovish remarks fm Fed's Yellen b4 stabilising.
. On the bigger picture 1st, y'day's sharp retreat strongly suggests the 1st leg of correction fm Mar's 4-month trough at 0.9651 has ended at 0.9786 last Fri n consolidation with downside bias wud be seen for MT downtrend fm 2015 4-year peak at 1.0330 (Nov) to resume n yield re-test of said sup. A daily close below there wud retain bearishness for further weakness twds 0.9528 (Sep 2015 low) early next month. Having said that, loss of momentum wud prevent strg fall below there n risk wud increase for a much-needed correction later. On the upside, only abv 0.9803 (prev. sup, now res) wud indicate a temp. low has been made n yield stronger retrace. twds 0.9872.
. Today, in view of abv bearish scenario, we are selling on pullback n wud look to exit on next fall as reckon 0.9611 (prev. res, now sup) shud hold. Only abv res 0.9786 wud abort this view n turn outlook bullish for a stronger retracement towards 0.9803 (prev. sup, now res), break, 0.9865/75.
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