18 Jul 2013
USD/CHF held by 0.9475 resistance
FXstreet.com (New York) - The USD/CHF foreign exchange rate surged higher as the USD notched solid gains across the board during US trading, peaking recently at 0.9474 (intraday high).
At the time of writing, the USD/CHF is now settling near its highs at 0.9469, presently notching a robust +0.59% above its opening. Technically speaking, the USD/CHF will encounter resistive means at 0.9475, onto 0.9497, and finally 0.9535, calculates the Danske Research team.
USD/CHF strategic bias
According to the Karen Jones, an analyst at Commerzbank, “The USD/CHF has sold off towards and is showing signs of recovery from the 200-day MA at 0.9358. Rallies will need to regain the 0.9568 March high in order to alleviate immediate downside pressure and retarget the 0.9753 July high. We have a TD perfected set up on the 240 minute chart and favor recovery.”
At the time of writing, the USD/CHF is now settling near its highs at 0.9469, presently notching a robust +0.59% above its opening. Technically speaking, the USD/CHF will encounter resistive means at 0.9475, onto 0.9497, and finally 0.9535, calculates the Danske Research team.
USD/CHF strategic bias
According to the Karen Jones, an analyst at Commerzbank, “The USD/CHF has sold off towards and is showing signs of recovery from the 200-day MA at 0.9358. Rallies will need to regain the 0.9568 March high in order to alleviate immediate downside pressure and retarget the 0.9753 July high. We have a TD perfected set up on the 240 minute chart and favor recovery.”