***** WEEKLY TECHNICAL OUTLOOK ON USD/CHF : April 15, 2013 *****

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WEEKLY TECHNICAL OUTLOOK ON USD/CHF

Last Update At 15 Apr 2013 00:17GMT

Trend Daily Chart
Sideways

Daily Indicators
Falling

21 HR EMA
0.9290

55 HR EMA
0.9304

Trend Hourly Chart
Down

Hourly Indicators
Falling

13 HR RSI
46

14 HR DMI
-ve

Daily Analysis
Consolidation b4 decline resumes

Resistance
0.9383 - Prev. sup, now res
0.9367 - Last Tue's high
0.9340 - Last Thur's high

Support
0.9263 - Fri's 5-week low
0.9231 - 61.8% r of 0.9024-0.9567
0.9185 - Feb's 20 low

. USD/CHF - 0.9286 ... Dlr remained under pressure throughout last week n price ratcheted lower fm Tue's high of 0.9367 to a 5-week low of 0.9263 Fri in part due to renewed cross buying in chf (eur/chf fell fm Tue's high of 1.2212 to 1.2156 Fri) b4 staging a minor recovery today.

. Current weakness suggests the decline fm Mar's 0.9567 high to retrace the recent entire rise fm Feb's low of 0.9024 remains in progress n as long as res at 0.9367 holds, decline to 0.9231 (61.8% r of 0.9024-0.9567) is envisaged, below wud encourage for further weakness to previous chart sup at 0.9185, having
said that, anticipated low readings on hourly oscillators shud prevent steep fall below latter lvl n reckon 0.9150 wud contain downside n yield a much-needed rebound later. On the upside, abv 0.9367 res wud be the 1st sign a temporary low has been made, however, a breach of 0.9445 (prev. sup, now res) is needed to
confirm aforesaid correction fm 0.9567 is over.

. Today, selling dlr on intra-day recovery in anticipation of such decline is favoured with stop abv 0.9340 res, break wud risk gain twds 0.9367 res.

 

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WEEKLY TECHNICAL OUTLOOK ON USD/CHF : April 22, 2013

WEEKLY TECHNICAL OUTLOOK ON USD/CHF

Last Update At 21 Apr 2013 23:56GMT

Trend Daily Chart
Down

Daily Indicators
Falling

21 HR EMA
0.9320

55 HR EMA
0.9311

Trend Hourly Chart
Near term up

Hourly Indicators
Rising

13 HR RSI
58

14 HR DMI
+ve

Daily Analysis
Possible resumption of uptrend

Resistance
0.9433 - Apr 05 European res
0.9388 - 50% of 0.9567-0.9207
0.9367 - Apr 09 high

Support
0.9291 - Last Thur's low
0.9277 - Last Fri's low
0.9207 - Last Wed's low

. USD/CHF - 0.9335 ... Although the greenback remained under pressure ini- tially last week due to resumption of recent decline fm Mar's 6-month peak at 0.9567 n partly on cross-selling in eur/chf, price weakened to a 7-week low of 0.9207 Wed b4 staging a strg rebound to 0.9340 on the same day, then 0.9348 Fri.

. Looking at the daily chart, dlr's aforesaid rebound fm 0.9207 suggests decline fm 0.97 has made a temporary low there, a daily close abv 0.9351 (Mar's low) wud confirm this view, then stronger gain twd 0.9430 (61.8% r) wud be seen later this week, however, abv there is needed to signal early fall was merely a strg correction of the rise fm 2013 low at 0.9024 (Feb), then price wud be en route twd 0.9567 in May. On the dwownside, only below 0.9207 wud abort above- mentioned bullishness n further weakness twd 0.9120/30 can't be ruled out.

. Today, despite inital euro-led retreat to 0.9312 in NZ, intra-day rebound suggests near term upmove fm last week's 0.9207 low wud resume after minor conso lidation n bring gain twd 0.9388 (50% r of 0.9567-0.8207), as hourly indicators wud display bearish divergences, reckon 0.9430 (61.8% r) shud cap upside.