DAILY USD/CHF TECHNICAL OUTLOOK
Last Update At 19 Feb 2014 00:12GMT

Trend Daily Chart
Down

Daily Indicators
Falling

21 HR EMA
0.8891

55 HR EMA
0.8907

Trend Hourly Chart
Down

Hourly Indicators
Bullish convergences

13 HR RSI
29

14 HR DMI
-ve

Daily Analysis
Resumption of recent decline

Resistance
0.9038 - last Wed's high
0.8989 - last Tue's high
0.8949 - last Thur's NY res

Support
0.8870 - Y'day's low
0.8860 - Dec 30 low
0.8800 - Dec 27 low


. USD/CHF - 0.8879... Despite dlr's recovery fm Monday's low at 0.8900 to
0.8929 in Asia on Tuesday, intra-day rally in euro together with selling in
eur/chf cross pressured price lower in Europe n dlr later fell to a fresh 6-week
trough at 0.8870 in NY morning b4 stabilizing.

. Looking at the hourly n daily charts, y'day's fall below Mon's low at
0.8900 to 0.8870 suggests bias for dlr remains to the downside n decline fm
Jan's peak at 0.9156 shud pressure price further to 0.8860 n then 0.8832, being
Dec 30 low n Dec 17 low respectively, after consolidation. However, as hourly
oscillators wud display prominent bullish convergences on such move, sharp fall
below there is unlikely to be seen n reckon Dec's 2-year low at 0.8800 wud hold
on 1st testing n yield minor correction later this week. Looking ahead, a daily
close below 0.8800 wud confirm MT downtrend fm 2012 peak at 0.9972 has 'finally'
resumed n extend weakness twd 0.8700 in late Feb/early Mar.

. In view of abv analysis, selling dlr on intra-day recovery is still
favored today but one shud take profit on next decline. On the upside, only abv
0.8949 wud indicate a temporary low has been made n risk retracement to 0.8989.