DAILY USD/CHF TECHNICAL OUTLOOKLast Update At 15 Dec 2015 00:01GMT
Trend Daily Chart
Sideways
Daily Indicators
Falling
21 HR EMA
0.9845
55 HR EMA
0.9854
Trend Hourly Chart
Sideways
Hourly Indicators
Bullish convergences
13 HR RSI
54
14 HR DMI
-ve
Daily Analysis
Choppy consolidation to continue
Resistance
0.9945 - Last Wed's high
0.9908 - Last Thur's high
0.9872 - Y'day's high
Support
0.9820 - Last Wed's low
0.9786 - Y'day's low
0.9757 - Oct 26 low
. USD/CHF - 0.9842... The greenback fell sharply fm European morning high at 0.9872 to intra-day low at 0.9786 in NY morning. However, price pared its losses n staged a short-covering rebound to 0.9865 nr NY closing.
. Looking at the bigger picture, dlr's early eur/usd-led sharp selloff to 0.9876, then 0.9803 last Fri n y'day's breach of this lvl to 0.9786 confirms dlr's MT rise fm Jan's 40-month bottom at 0.7360 has made a top at Nov's fresh 4-year peak at 1.0330 n consolidation with downside bias is seen in the coming days for weakness to 0.9701, being the 'natural' 50% r of the MT intermediate upmove fm 0.9072 (May low). Therefore, selling dlr on recovery in anticipation of weakness to indicated downside lvl is recommended. On the upside, only a daily close abv 0.9945 would signal 1st leg of correction is over n may risk stronger gain twd 1.0032/36.
. Today, as y'day's strg rebound fm 0.9786 suggests a temporary low has been made, we are buying the greenback for gain twds 0.9900 n wud look to exit on next rise as res 0.9945 shud remain intact n bring another fall. On the downside, only below 0.9786 wud abort bullishness, risk 0.9755/57.
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