24 Jul 2015
USD/CHF downside appears limited – Commerzbank
FXStreet (Edinburgh) - According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, pullbacks in the pair could be shallow.
Key Quotes
“USD/CHF has eased back to and recovered off the 200 day ma at .9529. We look for moves lower to remain relatively shallow and should be contained by the .9454 uptrend”.
“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 .9868”.
Key Quotes
“USD/CHF has eased back to and recovered off the 200 day ma at .9529. We look for moves lower to remain relatively shallow and should be contained by the .9454 uptrend”.
“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 .9868”.