20 Feb 2015
USD/CHF poised to reach 0.9511 – Commerzbank
FXStreet (Barcelona) - According to Karen Jones, Head of Technical Analysis at Commerzbank, USD/CHF is poised to test the 200 day ma at 0.9511.
Key Quotes
“USD/CHF has maintained its break above the .9360 October 2014 low and we look for a test of the 200 day ma at .9511. It is possible that this will hold the initial test, however the move looks directional and above the 200 day ma lies the .9608/78.6% retracement of the sharp sell off.”
“This market is bid above .9285 but intraday charts still suggests that we should see failure ahead of the .9608 Fibo and a slide back to .9177 the February low and then .9080/00 zone.”
Key Quotes
“USD/CHF has maintained its break above the .9360 October 2014 low and we look for a test of the 200 day ma at .9511. It is possible that this will hold the initial test, however the move looks directional and above the 200 day ma lies the .9608/78.6% retracement of the sharp sell off.”
“This market is bid above .9285 but intraday charts still suggests that we should see failure ahead of the .9608 Fibo and a slide back to .9177 the February low and then .9080/00 zone.”