20 Mar 2015
USD/CHF might retest 1.0128/40 – Commerzbank
FXStreet (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank, sees a possibility that USD/CHF might stablise around 0.9850/00 and retest 1.1028/40.
Key Quotes
“USD/CHF steadied yesterday and is attempting to recover from the .9629 overnight low. After such a sharp sell off it is possible that we will see further choppy moves while the market stabilises.”
“Could we spike down to the 55 and 200 day moving averages at .950, .9406 – this is possible but if seen we look for these to hold. This is not our favoured scenario.”
“We look for dips lower to stabilise 9850/00 and for a retest of the 1.0128/40, recent high and TD resistance.”
“A move above 1.0140 would be regarded as the break up point to the 1.0240 mid January high and 1.0295, the 5th January high.”
Key Quotes
“USD/CHF steadied yesterday and is attempting to recover from the .9629 overnight low. After such a sharp sell off it is possible that we will see further choppy moves while the market stabilises.”
“Could we spike down to the 55 and 200 day moving averages at .950, .9406 – this is possible but if seen we look for these to hold. This is not our favoured scenario.”
“We look for dips lower to stabilise 9850/00 and for a retest of the 1.0128/40, recent high and TD resistance.”
“A move above 1.0140 would be regarded as the break up point to the 1.0240 mid January high and 1.0295, the 5th January high.”