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28 Jul 2015
Limited downside seen in USD/CHF – Commerzbank
FXStreet (Edinburgh) - Pullbacks in the pair should be quite shallow, according to Karen Jones, Head of FICC Technical Analysis at Commerzbank.
Key Quotes
“USD/CHF has again eased back to the 200 day ma at .9531 and seen a decent rebound from there. We look for moves lower to remain relatively shallow and should be contained by the .9478 uptrend”.
“We still 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 .9860”.
Key Quotes
“USD/CHF has again eased back to the 200 day ma at .9531 and seen a decent rebound from there. We look for moves lower to remain relatively shallow and should be contained by the .9478 uptrend”.
“We still 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 .9860”.