9 Mar 2015
USD/CHF bid above near-term uptrend – Commerzbank
FXStreet (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank, gives the technical outlook for USD/CHF, with the pair expected to remain bid whilst above the near-term uptrend, with resistance at 0.9880 and then the psychological 1.0000/25 level.
Key Quotes
“USD/CHF has rallied strongly higher to exceed the .9818 December 2014 high.”
“The market continues to push higher and above here we have a very minor level at .9886 (mid December high) and then 1.0000/25 (psychological resistance and Fibonacci extension). This guards the 1.0240 mid January high.”
“Dips will find a near term up channel at 0.9560 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 has rallied strongly higher to exceed the .9818 December 2014 high.”
“The market continues to push higher and above here we have a very minor level at .9886 (mid December high) and then 1.0000/25 (psychological resistance and Fibonacci extension). This guards the 1.0240 mid January high.”
“Dips will find a near term up channel at 0.9560 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”