24 Apr 2014
USD/CHF bearish below 0.8846/80 – Commerzbank
FXStreet (Edinburgh) - Karen Jones, Head of FICC Technical Analysis at Commerzbank, sees the stance for USD/CHF to remain negative below 0.8846/80.
Key Quotes
“USD/CHF is negative short term while capped by .8846/80 (the 55 day ma and the 2013-2014 downtrend)”.
“Rallies need to regain .8880 (2013-2014 resistance line) to retarget the .8903 resistance line and the .8953 recent high.”
“We have a downside sloping line, which connects the last 3 lows since October 2013 and this comes in at .8638, a slide to and recovery from here (if tested) is our favoured scenario”.
Key Quotes
“USD/CHF is negative short term while capped by .8846/80 (the 55 day ma and the 2013-2014 downtrend)”.
“Rallies need to regain .8880 (2013-2014 resistance line) to retarget the .8903 resistance line and the .8953 recent high.”
“We have a downside sloping line, which connects the last 3 lows since October 2013 and this comes in at .8638, a slide to and recovery from here (if tested) is our favoured scenario”.