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USDCHF Discussions

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USDCHF – Weakens, Extends Bearish Momentum.

 

USDCHF: With USDCHF holding below the 0.9655 level, Aug 06’2012 low and closing lower the past week, risk of further decline is developing. The pair continues to hold on to its downside pressure initiated from the 0.9970 level leaving the risk of further downside pressure towards the 0.9480 level. A violation of here could force more declines towards the 0.9421 level where a breach will aim at the 0.9366 level. Its weekly RSI is bearish and pointing lower supporting this view. The alternative scenario will be for the pair to initially return above the 0.9655 level which should open up further upside towards the 0.9808 level. Further out, resistance resides at the 0.9970 level where a break will resume its broader medium term uptrend towards the 1.0000 level, its 200 weekly ema. On the whole, the pair remains biased to the downside on correction.

 

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USDCHF: The pair continues to hold on to its downside pressure initiated from the 0.9970 level declining sharply for the past week and setting the stage for additional weakness. This development now leaves the pair targeting the 0.9421 level, its July 2012 low. A violation of here could force more declines towards the 0.9366 level where a breach will aim at the 0.9300 level. Its weekly RSI is bearish and pointing lower supporting this view. The alternative scenario will be for the pair to initially return above the 0.9655 level. This if seen should open up further upside towards the 0.9808 level. Further out, resistance resides at the 0.9970 level where a break will resume its broader medium term uptrend now on hold. On the whole, the pair remains biased to the downside in the short term.

 

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USDCHF: The pair continues to weaken turning lower below the 0.9421 level, its July 2012 low to close the week at 0.9271 level. This leaves the pair aiming at the 0.9193 level, its May 07’2012 low on further declines where a violation could force more declines towards the 0.9100 level. A breach of here will aim at its major psycho level at the 0.9000 level. Its weekly RSI is bearish and pointing lower supporting this view. The alternative scenario will be for the pair to initially return above the 0.9421 level and then the 0.9655 level. This if seen should open up further upside towards the 0.9808 level. Further out, resistance resides at the 0.9970 level. On the whole, the pair remains biased to the downside in the short term.

 

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USDCHF: The pair managed to close higher for a second week in a row at the end of the week, suggesting we could see further correction. If this occurs, further upside risk could build up towards its Sept 10'2012 high at 0.9482 where a breach will open up further upside gain towards the 0.9606 level. Its weekly RSI has turned higher suggesting further strength. On the down, if its current recovery fails especially ahead of the 0.9421/82 levels, its short term downtrend could be triggered. Support lies at the 92.38 level where a violation will aim at the 0.9193 level, its May 07’2012 low followed by the 0.9100 level. A breach of here will turn focus to its major psycho level at the 0.9000 level. On the whole, the pair remains biased to the downside in the short term despite its recovery attempts.

 

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USDCHF: With USDCHF failing to follow through higher on the back of its last week gains, further weakness is expected in the days ahead. This is coming on the heels of a second day of weakness during Tuesday trading session. The risk is for the pair to recapture its key support located at the 92.38 level. A violation will aim at the 0.9193 level, its May 07’2012 low followed by the 0.9100 level. On the upside, it will have to return above the 94.24 level to annul its current weakness and resume its bullish offensive towards its Sept 10'2012 high at 0.9482. A breach will open up further upside gain towards the 0.9606 level. On the whole, the pair remains biased to the downside in the short term.

 

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USDCHF: With USDCHF reversing almost all of its corrective recovery gains the past week, the big risk is for it to return to the 0.9238 level. If this occurs in the new week, further declines will shape up towards the 0.9193 level, its May 07’2012 low with breach targeting the 0.9100 level and ultimately the 0.9000 level, its big psycho level. Its weekly RSI is bearish and pointing lower supporting this view. On the upside, it will have to return above the 0. 9424 level to annul its current weakness and resume its bullish offensive towards its Sept 10'2012 high at 0.9482. A breach will open up further upside gain towards the 0.9606 level. On the whole, the pair remains biased to the downside in the short term.

 

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USDCHF: With an attempt on the upside failing and USDCHF closing marginally higher the past week, the risk of returning to the 0.9238 level continues to build up. If this occurs in the new week, further declines could shape up towards the 0.9193 level, its May 07’2012 low where a breach will aim at the 0.9100 level and ultimately the 0.9000 level, its big psycho level. Its weekly RSI is bearish and pointing lower supporting this view. On the upside, the pair will have to return above the 0. 9424 level to annul its current weakness and then resume its bullish offensive towards its Sept 10'2012 high at 0.9482. A cut through here will open up further upside gain towards the 0.9606 level. On the whole, the pair remains biased to the downside in the short term.

 

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USDCHF: With the pair continuing to look vulnerable despite its recovery attempt the past week, a return to the 0.9213 level is still a likely scenario. A decisive break of here will set the stage for a move lower towards the 0.9193 level, its May 07’2012 low where a breach will aim at the 0.9100 level and ultimately the 0.9000 level, its big psycho level. On the upside, the pair will have to follow through on its past week marginal gains to return to the 0.9424 level in order to reduce bear threats. Above here will resume its short term uptrend now on hold towards its Sept 10'2012 high at 0.9482 followed by the 0.9606 level. On the whole, the pair remains biased to the downside in the medium term.

 

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USDCHF: With the pair closing marginally higher on the back of its previous week higher close, the risk is for a follow through to occur. However, USDCHF is trapped in a consolidation. In order for it to force further upside offensive, it will have to overcome the 0.9424 level. Above here will resume its short term uptrend now on hold towards its Sept 10'2012 high at 0.9482 followed by the 0.9606 level. Its weekly RSI is bullish and pointing higher supporting this view. Alternatively, as long as the pair remains below the 0.9424 level, there is risk of a return to the 0.9213 level. A decisive break of here will set the stage for a move lower towards the 0.9193 level, its May 07’2012 low where a breach will aim at the 0.9100 level and ultimately the 0.9000 level, its big psycho level. On the whole, the pair remains biased to the downside in the medium term despite its corrective attempts.

 

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USDCHF: With the pair extending its last week strength, the risk is for it to decisively break and hold above the 0.9424 level. It was testing that level at the time of this of this analysis. Above here will resume its short term uptrend towards its Sept 10'2012 high at 0.9482 followed by the 0.9606 level. Its weekly RSI is bullish and pointing higher supporting this view. Alternatively, as long as the pair remains below the 0.9424 level, there is risk of a return to the 0.9213 level. A decisive break of here will set the stage for a move lower towards the 0.9193 level, its May 07’2012 low where a breach will aim at the 0.9100 level and ultimately the 0.9000 level, its big psycho level. On the whole, the pair remains biased to the downside in the medium term despite its corrective attempts.

 

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USDCHF: A third week of upside gains has put the pair firmly above the 0.9424 level, suggesting further bullish pressure is likely to occur. With that said, USDCHF looks to target the 0.9550 level as long as it holds above the 0.9424 level. A breach of the 0.9550 level will open the door for more upside offensive towards the 0.9606 level. Its weekly RSI is bullish and pointing higher supporting this view. Alternatively, support comes in at the 0.9424 level where a reversal of roles is likely to occur and turn USDCHF higher. However, if this fails to occur, a run at the 0.9275 level will follow where a decisive break will set the stage for a move lower towards the 0.9193 level, its May 07’2012 low. On the whole, the pair remains biased to the downside in the medium term.

 

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USDCHF: While outlook for USDCHF may be pointing higher on correction, price hesitation has set in turning the pair lower the past week. However, as long as it trades and holds above the 0.9497 and the 0.9275 levels, its corrective bias remains higher with eyes on the 0.9550 level. A breach of here will open the door for more upside offensive towards the 0.9606 level. Its weekly RSI is bullish and pointing higher supporting this view. Alternatively, support comes in at the 0.9497 level where a halt is likely to occur and turn USDCHF higher. However, if this fails to occur, a run at the 0.9275 level will follow where a decisive break will set the stage for a move lower towards the 0.9193 level, its May 07’2012 low. On the whole, the pair remains biased to the upside on correction though hesitating.

 

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USDCHF- Turns Lower On Price Failure, Further Weakness Likely.

 

USDCHF: With USDCHF reversing almost all of its recovery gains the past week, further decline cannot be ruled out in the new week. In such a case, the pair should push further lower towards the 0.9213 level where a violation will call for a run at 0.91.50 level followed by the 0.9041 level. Its daily RSI is bearish and pointing lower supporting this view. On the other hand, the pair will have to break and hold above the 0.9511 level, its Nov 2012 high to reverse its present bear threats. This if seen will create scope for more recovery higher towards the 0.9550 level. A breach of here will open the door for more upside offensive towards the 0.9606 level. On the whole, the pair remains biased to the downside having ended its correction.

 

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USDCHF: Although USDCHF closed flat the past week, bear threats are yet to be over. However, the pair will have to break and hold below the 0.9213 level to trigger further declines. This if seen will call for a run at the 0.9150 level followed by the 0.9041 level. Its weekly RSI is bearish and pointing lower supporting this view. On the other hand, the pair will have to break and hold above the 0.9511 level, its Nov 2012 high to annul its present bear threats. This if it occurs will create scope for more strength towards the 0.9550 level. A breach of here will open the door for more upside offensive towards the 0.9606 level. On the whole, the pair remains biased to the downside.

 

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USDCHF- Reverses Gain, Sells Off.

 

USDCHF: With its one-week recovery reversed the past week to close lower, further price extension is likely to occur in the new week. This development leaves the pair targeting the 0.9041 level where a breach will turn attention to the 0.9000 level. Price hesitation may occur here and turn the pair back up but if taken out, it will aim at the 0.8929 level. Its weekly RSI is bearish and pointing lower supporting this view. On the upside, it will have to return above the 0.9382 level to annul its present downside pressure. This if seen will bring further upside offensive towards the 0.9456 level followed by the 0.9511 level and then the 0.9606 level. On the whole, the pair remains biased to the downside short term.

 

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USDCHF is now trading in higher ranges. There is an increase with the upward movement which is supported by strong US household and initial jobless claimers (based on data). USD/CHF is losing tempered by imposition of negative rates on Swiss franc deposits by Credit Suisse and UBS; broadly stronger demand for the safe - haven USD as risk appetite falls; position adjustment before the weekend. It is recommended to buy above 0.932. The pair will remain upside above unless it crosses 0.932. Bears will try to make 0.9395 a strong resistance and will try to move the price to 0.925.

Either buy on above 0.932 (In this way, your target should be at 0.9395 and 0.941) or sell below 0.932 (In this way, your target should be below 0.932 like 0.929 and 0.924). Keep in view resistance level and support level.

USDCHF23.GIF.00249b30127d490d7bc9fb45773b879a.GIF

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