6 Jul 2015
USD/CHF: long for 0.9560 – Commerzbank
FXStreet (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank, sees upside potential for USD/CHF, and maintains a long position, targeting 0.9560 levels.
Key Quotes
“USD/CHF has eased back to and is holding the previous downtrend at 0.9396 today. The market is looking a bit perkier as it has completely ignored the recent key day reversal to the downside and has eroded the near term resistance line to head into the middle of the cloud. We would allow for an attempt on the 200 day ma and the May high at .9529/43.”
“Dips lower should find some support circa .9344, and .9243. , this should ideally now hold the downside – this effectively protects the .9215 recent low and the.9072 May low.”
“Current Position: Long .9405 Recommended Trade: add .9350, stop .9295. Partially cover .9560 and exit the remainder .9600.”
Key Quotes
“USD/CHF has eased back to and is holding the previous downtrend at 0.9396 today. The market is looking a bit perkier as it has completely ignored the recent key day reversal to the downside and has eroded the near term resistance line to head into the middle of the cloud. We would allow for an attempt on the 200 day ma and the May high at .9529/43.”
“Dips lower should find some support circa .9344, and .9243. , this should ideally now hold the downside – this effectively protects the .9215 recent low and the.9072 May low.”
“Current Position: Long .9405 Recommended Trade: add .9350, stop .9295. Partially cover .9560 and exit the remainder .9600.”