DAILY USD/CHF TECHNICAL OUTLOOKLast Update At 01 Apr 2016 00:18GMT
Trend Daily Chart
Down
Daily Indicators
Falling
21 HR EMA
0.9615
55 HR EMA
0.9642
Trend Hourly Chart
Sideways
Hourly Indicators
Bullish convergences
13 HR RSI
43
14 HR DMI
-ve
Daily Analysis
Consolidation b4 decline resumes
Resistance
0.9764 - Tue's high
0.9723 - Mon's low (now res)
0.9667 - Y'day's high
Support
0.9572 - Y'day's low
0.9553 - 61.8% r of 0.9072-1.0330
0.9498 - Equality of 1.0257-0.9661 fm 1.0094
. USD/CHF - 0.9558... Dlr met renewed selling at 0.9667 in Asia n resumed its recent losing streak n tumbled to a fresh 5-month trough at 0.9572 in NY morning b4 staging a short-covering rebound to 0.9625 ahead of Asian open today.
. Looking at the bigger picture 1st, dlr's breach of Mar's low at 0.9651 to 0.9592 Wed, then a fresh 5-month trough at 0.9572 y'day confirms MT downtrend fm 2015 4-year peak at 1.0330 (Nov) has once again resumed n downside bias remains for weakness to 0.9553, being the 'dynamic' 61.8% retracement of MT intermediate rise fm 0.9072-1.0330, then twds 0.9498 (equality of 1.0257-0.9661 measured fm 1.0094). Having said that, as 'bullish convergences' signals have displayed on the hourly indicators, steep fall below there is unlikely to be seen n yield a much-needed correction. On the upside, only abv 0.9786 would indicate temporary low has been made n risk stronger retracement to 0.9914.
. Today, in view of abv analysis, we are selling on pullback for in anticipation for another decline twds 0.9540/50 n wud look to exit on such fall. Only abv 0.9723 (Mon's low, now res) would indicate a temporary low has been made n risk stronger retracement twds 0.9764 (Tue's high) b4 down.
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