USD/CHF struggling as it approaches tougher resistance – Commerzbank

FXStreet (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank, gives the technical outlook and key levels for USD/CHF.

Key Quotes

“USD/CHF continues to approach tougher resistance offered by .9484 the April low, the 200 day ma at .9518 and the 2 month downtrend at .9514. A close above here is needed to restore the upmove to the .9862 April high.”

“Dips lower should find some support at .9280/65 ahead of key support at .9072/70 recent low and Fibonacci retracement.”

“Current Position: None. Recommended Trade: Attempt small longs on dips to .9280, add .9265, stops .9225.Exit .9525.”