21 Jul 2015
USD/CHF could visit 0.9725 – Commerzbank
FXStreet (Edinburgh) - According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair could now target the Fibo retracement at 0.9725.
Key Quotes
“USD/CHF has eroded the 200 day ma at .9527 and the May high at .9543. We have a buy signal on the DMI indicator and the MACD is above zero”.
“The break higher has introduced scope to .9725, the 61.8% retracement of the move down from the March high. The 2015 resistance line is also now in view at .9874”.
“The market is bid while above the 0.9417 support line ahead of the 0.9359 55 day ma”.
Key Quotes
“USD/CHF has eroded the 200 day ma at .9527 and the May high at .9543. We have a buy signal on the DMI indicator and the MACD is above zero”.
“The break higher has introduced scope to .9725, the 61.8% retracement of the move down from the March high. The 2015 resistance line is also now in view at .9874”.
“The market is bid while above the 0.9417 support line ahead of the 0.9359 55 day ma”.