16 Jan 2015
USD/CHF might undergo further correction – SG
FXStreet (Barcelona) - Analysts at Societe Generale, expect USD/CHF correction to continue towards 0.75 and even 0.70 levels.
Key Quotes
“USD/CHF has retraced after testing graphical resistance at 1.00/1.02. The pair is breaking below last year’s lows of 0.87/0.8570. With weekly RSI violating support, a close below 0.87/0.8570 will mean further correction towards 0.75 and even towards 2011 lows of 0.70. Short-term upside should be capped at 0.92 with the next resistance at 0.9550.“
Key Quotes
“USD/CHF has retraced after testing graphical resistance at 1.00/1.02. The pair is breaking below last year’s lows of 0.87/0.8570. With weekly RSI violating support, a close below 0.87/0.8570 will mean further correction towards 0.75 and even towards 2011 lows of 0.70. Short-term upside should be capped at 0.92 with the next resistance at 0.9550.“