Forex Flash: USD/CHF with buy signal - Commerzbank
Forex pairs in this Article » USD/CHF
FXstreet.com (Barcelona) - The Commerzbank team of analysts ensures the USDCHF will now be facing its next resistance at 0.9505 (38.2% retracement of the move down from July). "While this may prompt some profit taking, we note the TD perfection on the 240 minute chart and would expect to see dips back remain quite shallow and we then favour further gains", wrote analyst Karen Jones, pointing to support at 0.9380 ahead of 0.9325, while targeting 0.9594 (50% retracement of the move down from July) and 0.9620. "Technical indicators are positive - MACD is above zero, we have a buy signal on the DMI and Slow Stochastics are positive", Jones added.