DAILY USD/CHF TECHNICAL OUTLOOK
Last Update At 19 Apr 2016 00:03GMT
Trend Daily Chart
Down
Daily Indicators
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21 HR EMA
0.9651
55 HR EMA
0.9654
Trend Hourly Chart
Sideways
Hourly Indicators
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13 HR RSI
46
14 HR DMI
-ve
Daily Analysis
Consolidation b4 one more rise
Resistance
0.9764 - Mar 29 high
0.9723 - Mar 28 low (now res)
0.9690 - Last Thur's high
Support
0.9628 - Y'day's low
0.9614 - Last Wed's NY sup
0.9594 - Last Tue's high (now sup)
. USD/CHF - 0.9646... Although price opened lower in NZ due to buying of chf n yen on risk aversion following selloff in oil prices after breakdown in Doha talk, price recovered to 0.9680 b4 hitting session lows of 0.9628.
. Looking at the daily chart, last week's rally fm 0.9498 (Tue) to 0.9690 signals MT downtrend fm 2015 4-year peak at 1.0330 (Nov) has made a temp. low n consolidation with upside bias would be seen for gain twds 0.9723/26, being Mar 28 low (now res) n 'minimum' 38.2% retracement of intermediate fall fm 1.0094, abv would yield stronger gain twd 0.9764, then 0.9786 later. Having said that, as broad outlook remains consolidative, 0.9803 (prev. sup, now res) wud remain intact n yield retreat. On the downside, only below 0.9594 (prev. res, now sup) would indicate aforesaid correction has ended instead n yield re-test of 0.9498.
. Today, although y'day's retreat suggests initial choppy trading below 0.9690 wud continue, reckon sup 0.9614 would contain pullback n intact n yield rebound later. Hence, we are holding a long position for 0.9720 n only below 0.9614 sup dampens bullishness, risks stronger retracement to 0.9594, however, reckon 0.9571 (61.8% r of 0.9498-0.9690) would remain intact.
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