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21 May 2015
USD/CHF faltering ahead of 0.9484 resistance – Commerzbank
FXStreet (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank, notes that USD/CHF is seen easing lower after faltering near the tough resistance at 0.9484.
Key Quotes
“USD/CHF is easing lower this morning – it is faltering as it approaches tougher resistance offered by .9484 the April low, the 200 day ma at .9517 and the 2 month downtrend at .9526. A close above here will restore the upmove to the .9862 April high.”
“Dips lower should find some support at .9280/65 ahead of key support at .9072/70 recent low and Fibonacci retracement.”
“Shorter term (1-3 weeks): Recent low at .9072 retested and holding.”
“Medium term (1-3 months): Risks shifted to the downside – using the top to provide a downside measurement targets .8850.”
Key Quotes
“USD/CHF is easing lower this morning – it is faltering as it approaches tougher resistance offered by .9484 the April low, the 200 day ma at .9517 and the 2 month downtrend at .9526. A close above here will restore the upmove to the .9862 April high.”
“Dips lower should find some support at .9280/65 ahead of key support at .9072/70 recent low and Fibonacci retracement.”
“Shorter term (1-3 weeks): Recent low at .9072 retested and holding.”
“Medium term (1-3 months): Risks shifted to the downside – using the top to provide a downside measurement targets .8850.”