24 Jun 2015
USD/CHF further upside awaits above 0.9382 – Commerzbank
FXStreet (Edinburgh) - According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair needs to close above 0.9382 in order to allow for further upside.
Key Quotes
“USD/CHF has seen a stunning rally to challenge the 2 month downtrend at .9382”.
“A close above here will be necessary in order to trigger a recovery to the .9543 end of May high and the top of the cloud resistance at .9600. This has not yet been seen and we would allow for a small pullback near term”.
“Dips lower should find some support circa .9270/30, last weeks low at .9150 should ideally now hold the downside – this effectively protects the .9072 May low”.
Key Quotes
“USD/CHF has seen a stunning rally to challenge the 2 month downtrend at .9382”.
“A close above here will be necessary in order to trigger a recovery to the .9543 end of May high and the top of the cloud resistance at .9600. This has not yet been seen and we would allow for a small pullback near term”.
“Dips lower should find some support circa .9270/30, last weeks low at .9150 should ideally now hold the downside – this effectively protects the .9072 May low”.