DAILYUSD/CHF TECHNICAL OUTLOOK
Last Update At 25 Apr 2014 00:25GMT
Trend Daily Chart
Sideways
Daily Indicators
Neutral
21 HR EMA
0.8823
55 HR EMA
0.8828
Trend Hourly Chart
Sideways
Hourly Indicators
Falling
13 HR RSI
44
14 HR DMI
-ve
Daily Analysis
Choppy trading to continue
Resistance
0.8905 - Apr 04 low (now res)
0.8880 - Apr 08 high
0.8862 - Tue's high
Support
0.8808 - Wed's low
0.8778 - Last Thur's low
0.8743 - Apr 11 3-week low
. USD/CHF - 0.8818 ... The greenback remained under pressure y'day inAsia n
retreated to 0.8814 in European morning, however, price pared intra-daylosses n
rose to session high at 0.8857 at NY open on upbeat U.S. durable goodsorder but
only to retreat back to 0.8814 on risk aversion as tensions in Ukrainereturned.
. Looking at the hourly chart,y'day's retreat after failure to penetrate
Tue's high at 0.8862 suggests near term rise fm Apr's low at 0.8743 is notready
to resume n further choppy consolidation below said res wud continue withmild
downside bias. Below 0.8808 wud indicate aforesaid upmove has ended n turnout-
look bearish for decline to 0.8779 (Apr 17 low), break wud confirm n yieldfur-
ther weakness twd 0.8743. Looking ahead, a breach of 0.8743 wud signal MTdown-
trend fm 2012 peak at 0.9972 has possibly resumed n bring a re-test ofMar's
2-year trough at 0.8698 early next week.
. Today, we're selling onrecovery in anticipation of weakness twd pivotal
sup at 0.8778. On the upside, only abv 0.8862 wud abort near termbearishness n
outlook wud become bullish for gain to 0.8880 (Apr 08 high), then twds0.8905
(prev. sup, now res), however, reckon res at 0.8953 shud remain intact.
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