DAILY USD/CHF TECHNICAL OUTLOOKLast Update At 05 Feb 2016 00:23GMT
Trend Daily Chart
Down
Daily Indicators
Turning down
21 HR EMA
0.9975
55 HR EMA
1.0047
Trend Hourly Chart
Sideways
Hourly Indicators
Bullish convergences
13 HR RSI
32
14 HR DMI
-ve
Daily Analysis
Consolidation b4 one more fall
Resistance
1.0111 - Last Thur's low (now res)
1.0078 - Y'day's high
0.9988 - Wed's low (now res)
Support
0.9922 - Y'day's low
0.9881 - Jan 10 low
0.9852 - 2015 Dec 24 low
. USD/CHF - 0.9927... Despite trading narrowly y'day, dlr met renewed sell ing at 1.0078 at European open n fell. Intra-day decline accelerated partly on active selloff in eur/chf cross, dlr later tumbled to as low as 0.9922 in NY.
. Looking at the daily chart, despite dlr's resumption of recent erratic rise fm 2015 Dec's 0.9786 low to as high as 1.0257 last Fri, subsequent selloff n weakness to 0.9922 suggests aforesaid rise to retrace dlr's fall fm 2015 4- year peak at 1.0330 has ended n consolidation with downside bias remains for weakness to 0.9881 (11 Jan low), a weekly clsoe below there would pressure price twd said 2015 Dec's bottom at 0.9786 later this month. Therefore, selling dlr on recovery in anticipation of decline to above mentioned downside targets is recommended n only a daily close abv 1.0155 (prev. sup, now res) would dampen bearishness but reckon res at 1.0226 should remain intact.
. Today, as current price is trading below 21-hr n 55-hr emas, suggesting intra-day downside bias remains for break of 0.9922 sup, as hourly indicators would display 'bullish convergences' on next fall, reckon sup 0.9852 would hold ahead of key U.S. jobs report n yield rebound twd 0.9988 b4 retreat.
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