6 Jun 2013
USD/CHF dropped to 0.9250
FXstreet.com (Barcelona) - The benchmark pair for the risk aversion is getting hammered on Thursday, as the greenback continues to give ground, currently bouncing off lows around 0.9250.
“We look for the market to stabilise just ahead of the 200 day moving average, this is located at 0.9356. At this stage however, we are unable to rule out further weakness to the .9331 2013 uptrend, which we look to ideally hold. Rallies need to regain 0.9624 to alleviate immediate downside pressure”, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank.
The pair is now losing 1.47% at 0.9282 facing the next support at 0.9267 (low May 2) ahead of 0.9247 (low May 1). On the upside, a surpass of 0.9396 (MA100d) would open the door to 0.9440 (high Jun.6) and finally 0.9500 (psychological level).
“We look for the market to stabilise just ahead of the 200 day moving average, this is located at 0.9356. At this stage however, we are unable to rule out further weakness to the .9331 2013 uptrend, which we look to ideally hold. Rallies need to regain 0.9624 to alleviate immediate downside pressure”, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank.
The pair is now losing 1.47% at 0.9282 facing the next support at 0.9267 (low May 2) ahead of 0.9247 (low May 1). On the upside, a surpass of 0.9396 (MA100d) would open the door to 0.9440 (high Jun.6) and finally 0.9500 (psychological level).