21 Jul 2014
USD/CHF buy the dips? – Commerzbank
FXStreet (Edinburgh) - Karen Jones, Head of FICC Technical Analysis underlines the recent bullish tone around the pair.
Key Quotes
“USD/CHF saw further buying on Friday that briefly kissed the 0.9000 level”.
“We are bullish following last weeks break above its 200 day ma at .8944 and consider that the market is well placed to tackle overhead resistance offered by the recent high at .9036, the 78.6% retracement at .9048 and the 55 week ma at .9021”.
“We suspect that these will all need to be cleared in order to regenerate strong upside interest. We continue to target the 200 week ma at .9169 slightly longer term”.
Key Quotes
“USD/CHF saw further buying on Friday that briefly kissed the 0.9000 level”.
“We are bullish following last weeks break above its 200 day ma at .8944 and consider that the market is well placed to tackle overhead resistance offered by the recent high at .9036, the 78.6% retracement at .9048 and the 55 week ma at .9021”.
“We suspect that these will all need to be cleared in order to regenerate strong upside interest. We continue to target the 200 week ma at .9169 slightly longer term”.