Daily Technical Outlook & Trading USD/CHF
DAILY USD/CHF TECHNICAL OUTLOOK
Last Update At 27 May 2016 02:08GMT
Trend Daily Chart
Up
Daily Indicators
Rising
21 HR EMA
0.9897
55 HR EMA
0.9903
Trend Hourly Chart
Sideways
Hourly Indicators
Falling
13 HR RSI
47
14 HR DMI
-ve
Daily Analysis
Choppy trading to continue
Resistance
1.0038 - Feb 29 high
0.9992 - 61.8% r of 1.0330-0.9444
0.9940 - Wed's fresh 2-month high (AUS)
Support
0.9843 - Last Wed's European high (now sup)
0.9806 - Hourly chart
0.9767 - May 10 high (now sup)
. USD/CHF - 0.9892... Dlr came under renewed selling pressure at 0.9824
ahead of Asian open n fell to 0.9885. Later, despite a brief bounce to
0.9929 in NY morning, price swiftly tanked to session low of 0.9872 b4
recovering.
. On the daily chart, dlr's strg rally fm May's 5-month bottom at 0.9444
to a fresh 2-month peak of 0.9940 Wed confirms the MT downtrend fm 2015
5-year peak at 1.0330 (Nov) has ended there, as this level was
accompanied by prominent 'bullish convergences' on the daily technical
indicators. Current rising indica- tors suggest further headway to
0.9992 is on the cards, being a 'dynamic' 61.8% r of aforesaid fall fm
1.0330-0.9444, however, 1.0094 (Mar high) would hold on 1st testing n
yield retreat. On the downside, below 0.9843 indicates a temp. top is
made n yields retrace. twd 0.9804/06 b4 prospect of another rise next
month.
. Today, as Wed's 0.9940 high was accompanied by 'bearish divergences'
on hourly indicators, subsequent break of indicated sup at 0.9883/86 to
0.9872 Thur due to renewed dlr's broad-based weakness signals a temp.
top has been made n stronger correction to 0.9843/48 is seen, therefore,
trading dlr fm short side is favoured but 0.9804 should hold. Only abv
0.9940 risks 0.9960/70.
