DAILY USD/CHF TECHNICAL OUTLOOK
Last Update At 08 Apr 2016 00:27GMT
Trend Daily Chart
Down
Daily Indicators
Falling
21 HR EMA
0.9559
55 HR EMA
0.9565
Trend Hourly Chart
Down
Hourly Indicators
Turning up
13 HR RSI
53
14 HR DMI
+ve
Daily Analysis
Resumption of recent decline
Resistance
0.9667 - Last Thur's high
0.9622 - Wed's high
0.9582 - Y'day's high
Support
0.9521 - Y'day's low
0.9498 - 100% proj. of 1.0257-0.9661 fm 1.0094
0.9477 - 2015 Oct low (15th)
. USD/CHF - 0.9559... Although dlr resumed its recent descent n fell to fresh 5-month trough at 0.9521 at European open, price rebounded session high of 0.9582 at NY open b4 retreating to 0.9530 due to cross-buying in chf vs euro.
. On the bigger picture 1st, dlr's breach of prev. Mar's low at 0.9651 to 0.9553 last Fri, then to a 5-month trough at 0.9521 y'day confirms the MT fall fm 2015 4-year peak at 1.0330 (Nov) has once again resumed n price is enroute to next downside target at 0.9477 (2015 Oct low) after consolidation. Having said that, as hourly indicators have displayed 'bullish convergences', further fall below 0.9425 being 100% proj. of 1.0330-0.9661 measured fm 1.0094) is unlikely to be seen n minor sup at 0.9384 may hold this week. On the upside, only a daily close abv 0.9667 signals temporary low is made n risks stronger gain to 0.9723 but 0.9786 should cap upside.
. Today, as y'day's rebound fm 0.9521 suggests initial choppy trading abv there would be seen with mild upside bias, we are holding a long position for 0.9625 n wud look to ext on next rise as res 0.9667 wud remain intact n bring another fall later. Below 0.9521 wud revive bearishness for 0.9498 n 0.9477. _20160408073756.png)
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