25 Mar 2015
USD/CHF slipping towards 0.9474 - Commerzbank
FXStreet (Barcelona) - Analyst at Commerzbank, Axel Rudolph, views that USD/CHF’s break below 0.9629 has paved way for the pair to test the support at 0.9474/0.9415 zone.
Key Quotes
“On Tuesday USD/CHF slipped through the March 18 low at .9629 while remaining below the psychological 1.0000 mark. It is thus about to test the 55- and 200-day moving averages at .9474/.9415 where it should hold today.”
“Further down lies the early February high at .9347. Minor resistance can now be seen around the early December high at .9818 and more significant resistance at 1.0000 and also at the current March high at 1.0128.”
“Only a move above 1.0128 would be regarded as the break up point to the 1.0240 mid-January high and the 1.0295 January 5 high.”
Key Quotes
“On Tuesday USD/CHF slipped through the March 18 low at .9629 while remaining below the psychological 1.0000 mark. It is thus about to test the 55- and 200-day moving averages at .9474/.9415 where it should hold today.”
“Further down lies the early February high at .9347. Minor resistance can now be seen around the early December high at .9818 and more significant resistance at 1.0000 and also at the current March high at 1.0128.”
“Only a move above 1.0128 would be regarded as the break up point to the 1.0240 mid-January high and the 1.0295 January 5 high.”