DAILY USD/CHF TECHNICAL OUTLOOKLast Update At 04 Mar 2016 00:08GMT
Trend Daily Chart
Sideways
Daily Indicators
Turning up
21 HR EMA
0.9936
55 HR EMA
0.9955
Trend Hourly Chart
Near term down
Hourly Indicators
Rising fm o/s
13 HR RSI
44
14 HR DMI
-ve
Daily Analysis
Consolidation with downside bias
Resistance
1.0038 - Mon's high
1.0012 - Reaction high fm 0.9949
0.9986 - Y'day's high
Support
0.9892 - Y'day's low
0.9871 - Last Fri's low
0.9853 - Last Wed's low
. USD/CHF - 0.9924... Although price rebounded to 0.9986 ahead of European open Thur, price fell to 0.9961 in Europe b4 tumbling to intra-day low at 0.9892 on dlr's broad-based weakness due to long liquidation ahead of Fri's NFP.
. Looking at 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, then 1.0038 Mon signals the medium-term fall fm 2015 4-year peak at 1.0330 (Nov) has ended there n as long as sup 0.9853 holds, upside bias is seen for initial headway to 1.0074, 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) b4 prospect of rebound.
. Today, dlr's daily close below 0.9949 (reaction low fm 1.0038) confirms aforesaid upmove fm Feb's 0.9661 bottom has indeed made a top at 1.0038 n retracement twd 0.9853 is likely but below needed to yield stronger correction twd 0.9805 (61.8% r fm 0.9661). Only abv 0.9986 risks 1.0012, then 1.0038.
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