DAILY USD/CHF TECHNICAL OUTLOOKLast Update At 24 Oct 2014 01:13GMT
Trend Daily Chart
Sideways
Daily Indicators
Turning down
21 HR EMA
0.9536
55 HR EMA
0.9520
Trend Hourly Chart
Up
Hourly Indicators
Bearish divergences
13 HR RSI
48
14 HR DMI
-ve
Daily Analysis
Consolidation b4 marginal rise
Resistance
0.9625 - Oct 07 high
0.9593 - Oct 10 high
0.9559 - Last Wed's high
Support
0.9518 - Y'day's low
0.9491 - Oct 16 high (now sup)
0.9473 - Wed's low
. USD/CHF - 0.9533... Although the greenback maintained a firm undertone in Asia on Thur following previous day's gain, price briefly climbed to a 1-week high of 0.9559 b4 coming off to 0.9518 due to euro's rebound in European morning , the pair then 'gyrated' inside said intra-day range in lackluster NY session.
. As mentioned earlier, dlr's rally abv previous res at 0.9491 (reaction high fm 0.9360) confirms dlr's 1st leg of correction fm Oct's fresh 1-year peak at 0.9690 has ended at last Wed's 3-week low at 0.9360 n consolidation with up-side bias wud be seen for stronger retrace. to 0.9563/64, being last Wed's high n 61.8% r respectively, then twd pivotal res at 0.9593 (Oct 10 high). A daily close abv there wud strongly suggest said correction fm 0.9690 has ended, then dlr wud be en route to re-test this 2014 peak later next week or in early Nov. On the downside, below 0.9473 wud indicate a temporary top is in place, then risk wud shift to downside for subsequent weakness twd 0.9398.
. Today, as 0.9518 has contained dlr's retreat fm 0.9559, as long as this sup holds, outlook remains mildly bullish, abv 0.9559/63 res wud encourage for subsequent gain twd 0.9593. Below 0.9491 wud be 1st signal top is made, 0.9473.
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