9 Apr 2015
USD/CHF bid above 0.9484 – Commerzbank
FXStreet (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank, maintains a bullish outlook on USD/CHF, targeting 1.0000 levels, with the pair expected to remain bid whilst above 0.9484.
Key Quotes
“USD/CHF continues to rebound off .9484, right within the 23.6% Fibonacci retracement and the 55- and 200-day moving averages at .9535/.9455. While it holds, resistance around the early December high at .9818 and more significant resistance at 1.0000 and also at the March high at 1.0128 should be reached.”
“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, however.”
“Current Position: Long .9605.Recommended Trade: Add at .9545 with a stop at .9480 and target at 1.0000.”
Key Quotes
“USD/CHF continues to rebound off .9484, right within the 23.6% Fibonacci retracement and the 55- and 200-day moving averages at .9535/.9455. While it holds, resistance around the early December high at .9818 and more significant resistance at 1.0000 and also at the March high at 1.0128 should be reached.”
“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, however.”
“Current Position: Long .9605.Recommended Trade: Add at .9545 with a stop at .9480 and target at 1.0000.”