DAILY USD/CHF TECHNICAL OUTLOOKLast Update At 05 Oct 2015 23:42GMT
Trend Daily Chart
Up
Daily Indicators
Neutral
21 HR EMA
0.9742
55 HR EMA
0.9738
Trend Hourly Chart
Sideways
Hourly Indicators
Rising
13 HR RSI
61
14 HR DMI
+ve
Daily Analysis
Choppy trading to continue
Resistance
0.9844 - Sep 25 high
0.9795 - Last Fri's high
0.9768 - Y'day's high
Support
0.9686 - Y'day's low
0.9645 - Last Fri's low
0.9592 - Sep 17 low
. USD/CHF - 0.9755... Despite initial retreat to session low at 0.9686 in early European morning, the pair pared its losses n rose to intra-day high at 0.9768 in NY afternoon on dlr's broad-based strength due to the rally in DJI.
. Looking at the bigger picture 1st, although dlr's 3-legged fall fm Sep's 0.9844 high to 0.9645 last Fri signals early upmove fm Aug's 0.9257 trough has made a temporary top there, Fri's intra-day rebound signals either the 1st leg of correction is over n further choppy consolidation is in store b4 prospect of another fall later this week. As long as 0.9645 holds, upside bias remains n a daily close abv 0.9795 would encourage for re-test of 0.9844, break there would yield further headway twd key res at 0.9903 (Aug's high). Therefore, buying dlr on dips in anticipation of upmove to indicated targets is recommended n only below 0.9645 would risk stronger retracement to 0.9550 (50% r fm 0.9257).
. Today, as price is trading abv both 21 n 55 hr emas, we are buying dlr again on dips for gain to 0.9800 n wud look to exit on next rise as res 0.9816(last Mon's high) shud remain intact today n yield retreat. On the downside, only below y'day's 0.9686 low wud abort bullishness, risk 0.9645.
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