10 Jul 2015
USD/CHF eyeing 0.9527/43 – Commerzbank
FXStreet (Barcelona) - Axel Rudolph, Analyst at Commerzbank, believes that as long as USD/CHF trades above 0.94 handle, 0.9527/43 and 0.9600 remain exposed.
Key Quotes
“USD/CHF nears the 200 day ma and the May high at .9527/43. While above .9400, this will remain exposed and above here lies the .9600, then .9725 50% and 61.8% retracement of the move down from the March 2015 high, then the .9862 April high.”
“Dips lower should find some support circa .9400/.9372 and the 55 day ma lies at .9346, the market will stay immediately bid above here.”
“Current Position: Long .9405”
“Recommended Trade: Stop at .9395. Partially cover .9525 and exit the remainder .9600.”
Key Quotes
“USD/CHF nears the 200 day ma and the May high at .9527/43. While above .9400, this will remain exposed and above here lies the .9600, then .9725 50% and 61.8% retracement of the move down from the March 2015 high, then the .9862 April high.”
“Dips lower should find some support circa .9400/.9372 and the 55 day ma lies at .9346, the market will stay immediately bid above here.”
“Current Position: Long .9405”
“Recommended Trade: Stop at .9395. Partially cover .9525 and exit the remainder .9600.”