12 May 2015
USD/CHF remains a buy for 0.9484 – Commerzbank
FXStreet (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank, suggests buying USD/CHF dips towards 0.9290 and 0.9260, expecting a upside move towards 0.9484.
Key Quotes
“USD/CHF has maintained the break of its short term downtrend and this introduces scope for a retest of the April low at .9484 and 200 day ma at .9510. These guard the 2 month downtrend at .9609. Following recovery off the .9072 Fibo we believe that the market is attempting to reassert its bull move longer term.”
“Current Position: None. Recommended Trade: Buy dips .9290, .9260, stops .9200.”
Key Quotes
“USD/CHF has maintained the break of its short term downtrend and this introduces scope for a retest of the April low at .9484 and 200 day ma at .9510. These guard the 2 month downtrend at .9609. Following recovery off the .9072 Fibo we believe that the market is attempting to reassert its bull move longer term.”
“Current Position: None. Recommended Trade: Buy dips .9290, .9260, stops .9200.”