5 Aug 2015
USD/CHF bullish above 0.9552/35 – Commerzbank
FXStreet (Edinburgh) - According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the perspective for the pair remains positive while above the 0.9552/35 band.
Key Quotes
“USD/CHF has eroded resistance at .9725 and rallied to the top of the channel at .9795 and targets the 2015 resistance line at .9844. Intraday rallies are indicated to terminate in this vicinity”.
“While above .9552/35, an upside bias remains intact. Failure here would allow for an extension of the move lower to the 55 day ma at 0.9440. This is expected to hold the downside”.
Key Quotes
“USD/CHF has eroded resistance at .9725 and rallied to the top of the channel at .9795 and targets the 2015 resistance line at .9844. Intraday rallies are indicated to terminate in this vicinity”.
“While above .9552/35, an upside bias remains intact. Failure here would allow for an extension of the move lower to the 55 day ma at 0.9440. This is expected to hold the downside”.