WEEKLY USD/CHF TECHNICAL OUTLOOKLast Update At 29 Feb 2016 00:05GMT
Trend Daily Chart
Sideways
Daily Indicators
Turning up
21 HR EMA
0.9949
55 HR EMA
0.9928
Trend Hourly Chart
Near term up
Hourly Indicators
Easing fmo/bot
13 HR RSI
63
14 HR DMI
+ve
Daily Analysis
Consolidation b4 one more rise
Resistance
1.0074 - 61.8% r of 1.0330-0.9661
1.0031 - 1.618 ext. of 0.9853-0.9952 f 0.9871
1.0006 - Last week's high (Tue, Reuters)
Support
0.9878 - Y'day's low
0.9847 - Last Tue's low
0.9793 - 61.8% r of 0.9661-1.0006
. USD/CHF - 0.9970.. Dollar went though a 'roller-coaster' ride last week. Price initially climbed to a near 3-week peak of 1.0006 Tue but fell to 0.9853 due to rebound in eur/usd, price later climbed back to 0.9989 on Fri.
. On the bigger picture 1st, dlr's upmove fm Feb's 3-1/2 month bottom at 0.9661 to as high as 1.0006 (Reuters) last Tue signals the medium-term fall fm 2015 4-year peak at 1.0330 (Nov) has ended there n despite a brief retreat to 0.9853, subsequent rebound has retained upside bias for initial headway to 1.0074 this week, this is a 'dynamic' 61.8% r of aforesaid fall. A weekly close abv there would bode well for dlr to head to 1.0198 (being 100% proj. of 0.9661-1.0006 measured fm 0.9853), abv there would retain bullishness for test of pivotal res at 1.0257 (Jan's top). On the downside, only a daily close below 0.9853 would risk weakness twd 0.9793 (61.8% r fm 0.9661) but 0.9786 should hold.
. Today, Fri's rally fm 0.9871 (Asia) to 0.9989 due to usd's broad-based strength in NY after upbeat U.S. data signals pullback fm 1.0006 has ended n retest of 1.0006 is envisaged, abv would encourage for gain to 1.0030/40, 'bearish divergences' on hourly indicators would cap price at 1.0074.
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