26 May 2015
USD/CHF: resistance at 0.9484 to hold – Commerzbank
FXStreet (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank, expects USD/CHF to test the resistance at 0.9484 and see a dip lower in the near-term.
Key Quotes
“USD/CHF charted an outside day to the topside on Friday which leaves the focus on tougher resistance offered by .9484 the April low, the 200 day ma at .9523 and the 2 month downtrend at .9490. A close above here is needed to restore the up move to the .9862 April high. Very near term we would allow for this to hold the initial test for a small dip lower.”
“Dips lower should find some support at .9280/65 ahead of key support at .9072/70 recent low and Fibonacci retracement.”
Key Quotes
“USD/CHF charted an outside day to the topside on Friday which leaves the focus on tougher resistance offered by .9484 the April low, the 200 day ma at .9523 and the 2 month downtrend at .9490. A close above here is needed to restore the up move to the .9862 April high. Very near term we would allow for this to hold the initial test for a small dip lower.”
“Dips lower should find some support at .9280/65 ahead of key support at .9072/70 recent low and Fibonacci retracement.”