USD/CHD bullish above 0.8891 – Commerzbank

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Edinburgh) -The pair is expected to keep its bullish stance while above the 0.8891 level, observed Karen Jones, Head of FICC Technical Analysis at Commerzbank.



Key Quotes



USD/CHF is somewhat adrift in between the .8900/.9000 zone. It has recently sold off to the .8909/38.2% retracement and seems to be correcting/consolidating near term, while above the 55 day ma at .8891 an upside bias is maintained”.



“Resistance offered by the 78.6% retracement of the move seen this year at .9058 and the 55 week ma at .9054 is looking insurmountable at this point”.



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