31 Jul 2015
USD/CHF bullish above 0.9516/32 – Commerzbank
FXStreet (Edinburgh) - According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the outlook for USD/CHF remain positive above the 0.9516/32 band .
Key Quotes
“We continue to target .9725, the 61.8% retracement of the move down from the March high and then the 2015 resistance line at .9852. We look for this to hold the initial test. We have again tightened the stops on the trade to profit stops as we notice the 13 counts on the intraday charts”.
“The market has an accelerated uptrend at .9604, but key support remains the 200 day ma at .9532 and the .9516 uptrend. While above here we maintain a positive bias”.
Key Quotes
“We continue to target .9725, the 61.8% retracement of the move down from the March high and then the 2015 resistance line at .9852. We look for this to hold the initial test. We have again tightened the stops on the trade to profit stops as we notice the 13 counts on the intraday charts”.
“The market has an accelerated uptrend at .9604, but key support remains the 200 day ma at .9532 and the .9516 uptrend. While above here we maintain a positive bias”.