WEEKLY USD/CHF TECHNICAL OUTLOOKLast Update At 02 Aug 2015 23:33GMT
Trend Daily Chart
Up
Daily Indicators
Rising
21 HR EMA
0.9655
55 HR EMA
0.9657
Trend Hourly Chart
Sideways
Hourly Indicators
Turning up
13 HR RSI
54
14 HR DMI
+ve
Daily Analysis
Consolidation with upside bias
Resistance
0.9784 - 1.236 ext. of 0.9150-0.9517 fm 0.9330
0.9720 - Y'day's high
0.9680 - Last Fri's NY reaction high fm 0.9548
Support
0.9599 - Last Wed's low
0.9548 - Last Fri's low
0.9526 - Jul 23 low
. USD/CHF - 0.9668... The pair met renewed buying at 0.9530 last Mon n continued its recent winning streak to a 3-month high of 0.9720 Thur. Price briefly tumbled to 0.9548 on Fri in NY morning b4 rebounding swiftly back to 0.9680.
. On the daily chart, dlr's rise abv previous Jul's 0.9651 high to 0.9720 last week suggests MT erratic upmove fm Mar's 3-month bottom at 0.9072 has resumed n price is en route to 0.9725 after minor consolidation, this is 'dynamic' 61.8% r of the early fall fm 1.0129 (Mar high), then 0.9784 (1.236 times extension of 0.9150-0.9517 fm 0.9330). However, as the daily oscillators' readings would be in o/bot territory on such move, reckon Apr's high at 0.9863 wud hold. On the downside, only below near term good sup at 0.9599/05 would be the 1st signal a temporary top has been made, then risk would shift to the downside for a long-overdue retracement twd 0.9526/30 b4 prospect of another rise.
. Today, despite dlr's intra-day cross-inspired decline in Europe on Fri n then a brief but sharp drop to 0.9548 in NY morning following a record-low rise in U.S. labour costs, subsequent rally back to 0.9680 suggests pullback is over, however, abv 0.9720/25 needed to extend MT upmove twd 0.9780/84.
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