DAILY USD/CHF TECHNICAL OUTLOOKLast Update At 23 Feb 2016 00:20GMTTrend Daily Chart
Sideways
Daily Indicators
Turning up
21 HR EMA
0.9973
55 HR EMA
0.9945
Trend Hourly Chart
Up
Hourly Indicators
Easing fm o/bot
13 HR RSI
64
14 HR DMI
+ve
Daily Analysis
Consolidation b4 further rise
Resistance
1.0111 - Jan 28 low (now res)
1.0078 - Feb 04 high
1.0036 - 50% proj. of 0.961-0.9969 fm 0.9882
Support
0.9969 - Last week's high (Thur, now sup)
0.9921 - Mon's Asian high (now sup)
0.9882 - Mon's low (NZ)
. USD/CHF - 0.9994... Despite opening lower to 0.9882 in NZ due to selling in eur/chf cross, intra-day weakness in eur/usd helped price climbed steadily higher, dlr rallied in European midday to 1.1005 in NY b4 stabilsing.
. Looking at the daily chart, despite dlr's initial break of 2015 Dec's low at 0.9786 to a 3-1/2 month trough of 0.9661, last week's rally to as high as 0.9969 n then rally to 1.0005 y'day suggests correction fm 2015 4-year peak at 1.0330(Nov) has indeed ended there n as long as 0.9882 sup holds, consolidation with upside bias remains for further headway to 1.0074/78 (61.8% r of aforesaid 3-legged fall fm 1.0330 n chart res respectively), a daily close abv there is needed to extend gain 1.0186 later this month or Mar. On the downside, only a daily close below 0.9882 would shift risk to downside for weakness twd 0.9791.
. Today, as current price is trading abv the 21-hr & 55-hr emas, suggesting intra-day upside bias remains for the greenback to resume recent strg upmove after minor consolidation in Asia b4 prospect of further headway to 1.0074/78, however, s 15-min & hourly oscillators would display 'bearish divergences' on such move, reckon 1.0100/10 would cap upside. Only below 0.9921 risks 0.9882.
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