DAILY USD/CHF TECHNICAL OUTLOOKLast Update At 15 Apr 2014 00:09GMT
Trend Daily Chart
Sideways
Daily Indicators
Falling
21 HR EMA
0.8790
55 HR EMA
0.8785
Trend Hourly Chart
Sideways
Hourly Indicators
Rising
13 HR RSI
63
14 HR DMI
+ve
Daily Analysis
Initial recovery b4 retreat
Resistance
0.8899 - Mar 28 high
0.8846 - Last Wed's high
0.8806 - Y'day's high 0.8743 -
Support
Last Fri's 3-week low
0.8698 - Mar 13 low
0.8665 - 61.8% proj. of 0.9839-0.8891 fm 0.9251
. USD/CHF - 0.8804... The greenback rose to 0.8784 in NZ due to the gap-down open in euro n continued to strengthen in European session. Price climbed to session high of 0.8806 at NY open after the release of stronger-than-expected U.S. retail sales. Dlr eased to 0.8782 at European closing b4 rebounding.
. Looking at the hourly n daily charts, although Fri's rebound fm 0.8743 suggests MT downtrend fm 2012 peak at 0.9972 is not ready to resume yet n choppy trading abv Mar's fresh 2-year trough at 0.8698 wud continue, as dlr's sell off fm 0.8953 (Apr 6 high) to 0.8743 confirms the 1st leg of correction has ended, reckon 0.8846 wud limit upside n bring another fall. Below said 0.8743 low wud retain bearishness for a re-test of 0.8698 later this week, break wud confirm aforesaid decline has resumed n extend weakness to 0.8665 (61.8% projection of 0.9839-0.8891 measured fm 0.9251).
. Today, in view of abv analysis, we are looking to sell dlr on intra-day gain for subsequent strong retreat but 0.8743 shud hold. On the upside, abv 0.8846 wud indicate pullback fm 0.8953 has ended instead n turn outlook bullish for gain to 0.8899. However, res 0.8953 shud remain intact.
Recommended Content
Editors’ Picks
AUD/USD post moderate gains on solid US data, weak Aussie PMI
The Australian Dollar registered solid gains of 0.65% against the US Dollar on Thursday, courtesy of an upbeat market mood amid solid economic data from the United States. However, the Federal Reserve’s latest monetary policy decision is still weighing on the Greenback. The AUD/USD trades at 0.6567.
EUR/USD recovers to top end of consolidation ahead of Friday’s US NFP
EUR/USD drove back to the top end of recent consolidation on Thursday, recovering chart territory north of the 1.0700 handle as market risk appetite regains balance heading into another US Nonfarm Payrolls Friday.
Gold recoils on hawkish Fed moves, unfazed by dropping yields and softer US Dollar
Gold price clings to the $2,300 figure in the mid-North American session on Thursday amid an upbeat market sentiment, falling US Treasury yields, and a softer US Dollar. Traders are still digesting Wednesday’s Federal Reserve decision to hold rates unchanged.
Ethereum may sustain trading inside key range, ETH ETFs to be delayed until 2025
Ethereum is beginning to show signs of recovery on Thursday despite a second consecutive day of poor performance in Hong Kong's spot Ethereum ETFs. Bloomberg analyst James Seyffart has also shared that a spot Ethereum ETF may not happen in the US in 2024.
FOMC in the rear-view mirror – NFP eyed
The update from May’s FOMC rate announcement proved more dovish than expected, which naturally weighed on the US dollar (sending the DXY to lows of 105.44) and US yields, as well as, initially at least, underpinning major US equity indices.