23 May 2014
USD/CHF targeting the 200-d MA at 0.8994 – Commerzbank
FXStreet (Edinburgh) - Karen Jones, Head of FICC Technical Analysis at Commerzbank, expects the pair to target 0.8994 (200-d MA) after a close above 0.8967.
Key Quotes
“USD/CHF continues to probe the .8953 April high and the .8967 23.6% retracement if the 2013-2014 down move”.
“We await a close above .8967 to signal an attempt on the 200 day moving average at .8994 and then the 55 week moving average at .9109”.
“Dips will ideally hold .8900/.8862, further support comes in at the .8851 late April high and further down around the .8800 mark and at .8771, the late April low”.
Key Quotes
“USD/CHF continues to probe the .8953 April high and the .8967 23.6% retracement if the 2013-2014 down move”.
“We await a close above .8967 to signal an attempt on the 200 day moving average at .8994 and then the 55 week moving average at .9109”.
“Dips will ideally hold .8900/.8862, further support comes in at the .8851 late April high and further down around the .8800 mark and at .8771, the late April low”.