9 Jul 2015
USD/CHF: long for 0.9525 – Commerzbank
FXStreet (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank, maintains a bullish outlook on USD/CHF, targeting 0.9525 levels.
Key Quotes
“USD/CHF held steady below the 200 day ma and the May high at .9527/43. While above .9400, this will remain exposed and above here lies the .9600 then .9725 50% and 61.8% retracement of the move down from the March 2015 high then the 0.9862 April high.”
“Dips lower should find some support circa .9400/.9372 and the 55 day ma lies at .9347, the market will stay immediately bid above here.”
“Current Position: Long .9405 Recommended Trade: Raise the stop .from 9350 to .9395. Partially cover .9525 and exit the remainder .9600”
Key Quotes
“USD/CHF held steady below the 200 day ma and the May high at .9527/43. While above .9400, this will remain exposed and above here lies the .9600 then .9725 50% and 61.8% retracement of the move down from the March 2015 high then the 0.9862 April high.”
“Dips lower should find some support circa .9400/.9372 and the 55 day ma lies at .9347, the market will stay immediately bid above here.”
“Current Position: Long .9405 Recommended Trade: Raise the stop .from 9350 to .9395. Partially cover .9525 and exit the remainder .9600”