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20 May 2015
USD/CHF focus shifts to 0.9484 – Commerzbank
FXStreet (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank, notes that USD/CHF has held the support at 0.9072 and having broken above 0.9360, attention now shifts to 0.9484 resistance.
Key Quotes
“USD/CHF has based at the .9072/70 recent low and Fibonacci retracement. The market has eroded initial resistance at .9360 and attention reverts to tougher resistance offered by .9484 the April low, the 200 day ma at .9515 and the 2 month downtrend at .9537. A close above here will restore the upmove to the .9862 April high.”
“Dips lower should find some support circa 0.9228 ahead of now key support at 0.9070.”
Key Quotes
“USD/CHF has based at the .9072/70 recent low and Fibonacci retracement. The market has eroded initial resistance at .9360 and attention reverts to tougher resistance offered by .9484 the April low, the 200 day ma at .9515 and the 2 month downtrend at .9537. A close above here will restore the upmove to the .9862 April high.”
“Dips lower should find some support circa 0.9228 ahead of now key support at 0.9070.”