6 Jun 2013
Flash: USD/CHF continues lower – Commerzbank
FXstreet.com (London) - Karen Jones at Commerzbank notes that the USD/CHF pair eyes the 200 SMA.
She says “USD/CHF continues to grind lower. We look for the market to stabilise just ahead of the 200 day moving average, this is located at 0.9356. At this stage however, we are unable to rule out further weakness to the 0.9331 2013 uptrend, which we look to ideally hold. Rallies need to regain 0.9624 to alleviate immediate downside pressure.” She adds that dips hold over 0.9331 uptrend, the longer-term bull move is intact and intraday rallies are likely to find minor resistance at 0.9650, 0.9684.
She says “USD/CHF continues to grind lower. We look for the market to stabilise just ahead of the 200 day moving average, this is located at 0.9356. At this stage however, we are unable to rule out further weakness to the 0.9331 2013 uptrend, which we look to ideally hold. Rallies need to regain 0.9624 to alleviate immediate downside pressure.” She adds that dips hold over 0.9331 uptrend, the longer-term bull move is intact and intraday rallies are likely to find minor resistance at 0.9650, 0.9684.