25 Aug 2015
USD/CHF still focused on the downside – Commerzbank
FXStreet (Edinburgh) - According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair still points southwards.
Key Quotes
“USD/CHF has sold off to the .9330/0.9289 band of support, the 10th July low, 78.6% retracement of the move up from June and 3 month support line”.
“The 200 week ma is also found .9301, we have seen a minor breach of this support but it was not sustained. Rallies are indicated to terminate at .9462/.9526 leaving the market still exposed on the downside”.
“Below .9260 will target the .9151 June low and then the .9072 May low”.
Key Quotes
“USD/CHF has sold off to the .9330/0.9289 band of support, the 10th July low, 78.6% retracement of the move up from June and 3 month support line”.
“The 200 week ma is also found .9301, we have seen a minor breach of this support but it was not sustained. Rallies are indicated to terminate at .9462/.9526 leaving the market still exposed on the downside”.
“Below .9260 will target the .9151 June low and then the .9072 May low”.