7 May 2014
USD/CHF under pressure below 0.8837/62 – Commerzbank
FXStreet (Edinburgh) -According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair would remain under pressure while capped by 0.8837/62.
Key Quotes
“USD/CHF remains under pressure while capped by resistance at .8837/62 – this is the location of the recent high and a resistance line”.
“Attention has reverted to the .8698 March low and the risk has increased that this will give way for losses to the .8620 2013-2014 support line – this connects the lows since October 2013”.
“Only a close above .8862 will alleviate downside pressure for gains towards the .8953 April high”.
Key Quotes
“USD/CHF remains under pressure while capped by resistance at .8837/62 – this is the location of the recent high and a resistance line”.
“Attention has reverted to the .8698 March low and the risk has increased that this will give way for losses to the .8620 2013-2014 support line – this connects the lows since October 2013”.
“Only a close above .8862 will alleviate downside pressure for gains towards the .8953 April high”.