DAILY USD/CHF TECHNICAL OUTLOOKLast Update At 25 Nov 2015 00:17GMT
Trend Daily Chart
Up
Daily Indicators
Rising
21 HR EMA
1.0170
55 HR EMA
1.0175
Trend Hourly Chart
Near term down
Hourly Indicators
Turning down
13 HR RSI
47
14 HR DMI
-ve
Daily Analysis
Choppy consolidation to continue
Resistance
1.0262 - 50% proj. of 0.9990-1.0226 fm 1.0144
1.0240 - 2015 high (Jan 14)
1.0226 - Y'day's 10-mth top
Support
1.0122 - Last Thur's low
1.0095 - Nov 13 high (now sup)
1.0044 - Last Mon's low
. USD/CHF - 1.0166... Despite hitting a fresh 10-month peak of 1.0226 on Mon, dlr fell due to cross-buying of chf on risk aversion on news of downing of a Russian warplane near Syria, price fell to 1.0144 b4 staging a recovery.
. On the bigger picture, dlr's resumption of early erratic rise fm 0.9072 (May) to 1.0226 on Mon suggests price would re-test 2015 4-year peak at 1.0240 (Jan) after consolidation, abv would bode well for MT uptrend fm Jan's 40-month trough at 0.7360 to head to 1.0317 (100% measurement of 0.9477-0.9958 projected fm 0.9836), then later to 1.0456, this is 50% projection of aforesaid rise fm 0.7360-1.0129 measured fm 0.9072. Current rising daily technical indicators suggest buying dlr again on dips is the way to go n only a daily close below 1.0095 (previous res, now sup) would be the 1st signal temporary top is in place n risk stronger correction to 1.0044 but sup at 0.9990/99 should remain intact.
. Today, as long as 1.0194 holds, consolidation with downside bias remains for aforesaid fall fm 1.0226 to head twd 1.0122 sup as below needed to bring stronger retracement to 1.0089/95 b4 prospect of a rebound. We're selling dlr on recovery for one more fall or buy on such move. Abv 1.0226 wud yield 1.0240.
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