29 May 2014
USD/CHF aims for 0.9099 – Commerzbank
FXStreet (Edinburgh) - According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair could well see a test of the 55-w MA at 0.9099.
Key Quotes
“USD/CHF has reached its 200 day moving average at .8990, this is likely to hold the initial test ahead of further gains to the 55 week moving average at .9099”.
“We note the 13 count on the 240 minute chart, TD resistance at .9000 and both the slow stochastic and daily RSI are starting to role over and these all suggest some consolidation”.
“Dips will ideally hold .8915/.8900, further support and should ideally be contained by the 55 day ma at .8847”.
Key Quotes
“USD/CHF has reached its 200 day moving average at .8990, this is likely to hold the initial test ahead of further gains to the 55 week moving average at .9099”.
“We note the 13 count on the 240 minute chart, TD resistance at .9000 and both the slow stochastic and daily RSI are starting to role over and these all suggest some consolidation”.
“Dips will ideally hold .8915/.8900, further support and should ideally be contained by the 55 day ma at .8847”.