6 Mar 2015
USD/CHF bid above near-term uptrend – Commerzbank
FXStreet (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank, views that USD/CHF remains bid whilst above the near-term uptrend, targeting 0.9818 levels.
Key Quotes
“USD/CHF remains bid following the erosion of the .9623/25, 78.6% retracement of the sell off seen in January – this was regarded as the last defence for the 1.0240 14th January high.”
“Initial resistances are the Fibonacci extensions at 0.97, the .9818 December 2014 high and 1.0000/25.”
“Dips will find a near term up channel at 0.9542 ahead of key support at the .9360 October 2014 low.”
“Shorter term (1-3 weeks): Bid above near term uptrend to .9818 then 1.00”
Key Quotes
“USD/CHF remains bid following the erosion of the .9623/25, 78.6% retracement of the sell off seen in January – this was regarded as the last defence for the 1.0240 14th January high.”
“Initial resistances are the Fibonacci extensions at 0.97, the .9818 December 2014 high and 1.0000/25.”
“Dips will find a near term up channel at 0.9542 ahead of key support at the .9360 October 2014 low.”
“Shorter term (1-3 weeks): Bid above near term uptrend to .9818 then 1.00”