2 May 2016
USD/CHF upside capped by 0.9787/0.9834 so far – Commerzbank
According to Senior Technical Analyst at Commerzbank Axel Rudolph, further gains in spot could face a strong hurdle in the 0.9787/0.9834 band.
Key Quotes
“USD/CHF slipped below the April 19 low at .9584 below which lies the April trough at .9499”.
“The topside remains capped by tough resistance at .9787/.9834 area (the December low, late March high and the 200 day moving average)”.
“Intraday rallies are indicated to fail at the February and mid-March lows at .9651/60. This guards the resistance line at .9739 and the April high at .9797”.
Key Quotes
“USD/CHF slipped below the April 19 low at .9584 below which lies the April trough at .9499”.
“The topside remains capped by tough resistance at .9787/.9834 area (the December low, late March high and the 200 day moving average)”.
“Intraday rallies are indicated to fail at the February and mid-March lows at .9651/60. This guards the resistance line at .9739 and the April high at .9797”.