Last Update At 06 Jul 2015 00:54GMT
Trend Daily Chart
Sideways
Daily Indicators
Rising
21 HR EMA
0.9424
55 HR EMA
0.9423
Trend Hourly Chart
Sideways
Hourly Indicators
Neutral
13 HR RSI
54
14 HR DMI
+ve
Daily Analysis
Choppy consolidation to continue
Resistance
0.9599 - Apr 28 high
0.9545 - May 27 high
0.9506 - Last Thur's high
Support
0.9396 - Fri's low
0.9382 - Tue's high (now sup)
0.9339 - Tue's NY low
. USD/CHF - 0.9434... Despite initial weakness to 0.9244 in NY session last Mon, dlr resumed early upmove on active buying of eur/chf cross by the SNB, price rallied to a 1-month peak of 0.9506 Thur b4 retreating to 0.9396 on Fri.
. Looking at the bigger picture, last week's resumption of Jun's 3-legged rise fm 0.9150 to last Thur's 1-month high at 0.9433 signals early decline fm May's peak at 0.9545 has ended there n although dlr's retreat fm last Thur's 1-month high at 0.9506 suggests initial consolidation is in store, a daily close below 0.9396 would bring stronger retracement of the 3-legged rise fm Jun's 0.9150 low twd 0.9286 (61.8% r of 0.9150-0.9506), reckon last week's trough at 0.9150 would contain weakness n yield another rise. Abv 0.9506 would bode well for dlr to re-test 0.9545, a break there would confirm early upmove fm May's 0.9072 trough has resumed, then price would be en route to 0.9600 n later twd 0.9725, these are 50% r & 61.8% r respectively of decline fm 1.0129 (Mar top) to 0.9072.
. Today, although dlr has staged a modest bounce fm Fri's 0.9396, anticipated selling in eur/chf cross on risk aversion due to Greek 'No' vote should keep dlr trading below 0.9506, below 0.9396 wud yield 0.9339/41. Abv 0.9506, 0.9545.
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