10 Jul 2013
USD/CHF supported at 0.9700 handle
http://www.fxstreet.com/technical-studies/currencies/usdchf/FXstreet.com (London) - USD/CHF is holding above 0.9700 handle on the London open.
USD/CHF rallied to highs 0.9752 yesterday amid a broad based dollar rally yesterday but was capped and offered in Asia. The pair now eye the FOMC minutes released later today.
USD/CHF has maintained upside pressure and has eroded its next resistance at 0.9687/88 (78.6% retracement), noted Research teams at Commerzbank. “This was considered to be the last defence for the .9840 high. The 55 month ma lies at 0.9786 and a resistance line at 0.9818 and there are likely to present additional resistance ahead of a move to the 0.9950/72 zone, which represents the 2012 high.” Said Karen Jones, chief analyst at the bank. “Dips are expected to hold over accelerated uptrend at .9546 and while above here an immediate upside bias is maintained.”
USD/CHF rallied to highs 0.9752 yesterday amid a broad based dollar rally yesterday but was capped and offered in Asia. The pair now eye the FOMC minutes released later today.
USD/CHF has maintained upside pressure and has eroded its next resistance at 0.9687/88 (78.6% retracement), noted Research teams at Commerzbank. “This was considered to be the last defence for the .9840 high. The 55 month ma lies at 0.9786 and a resistance line at 0.9818 and there are likely to present additional resistance ahead of a move to the 0.9950/72 zone, which represents the 2012 high.” Said Karen Jones, chief analyst at the bank. “Dips are expected to hold over accelerated uptrend at .9546 and while above here an immediate upside bias is maintained.”