|   Technicals


  |   Technicals


FxWirePro- USDCHF Daily Outlook

Major Intraday resistance -0.9320


Intraday support- 0.92150


It is trading lower for second days and lost more than 100 pips on board-based US dollar weakness. The US dollar index declined below 94 levels despite upbeat US inflation data. The US Inflation rose 4% in September and annual inflation rose 5.4% highest increase in 13 years. The Fed meeting minutes show that the central bank to taper bond buying by mid-November or mid-December this year. The intraday trend of USDCHF is still bearish as long as resistance 0.92750 holds. At the time of writing, USDCHF is hovering around 0.92041 down -0.40%.


Woodies and CCI analysis-

The Woodies CC and CCI (50) are trading below zero lines (bearish trend). In Woodies CCI six consecutive bars below zero (bearish confirmation).




USDCHF is facing strong resistance around 0.92380.  Any break above targets 0.92750/0.9320. It should surge past 0.9370 for further bullish continuation. A jump to 0.9400/0.9425 is possible.  On the lower side, immediate support is around 0.9200. Any convincing breach below targets 0.9170/0.91150.


 Indicator (1-hour chart)


 Directional movement index - Bearish  

It is good to sell on rallies around 0.9238-40 with SL around 0.92750 for a TP of 0.91150.


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