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”.



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    USD/CHF up but still below 0.9700

  2. Forex News

    USD/CHF Technical Analysis: Rally Slows Near 0.97 Threshold

  3. Forex News

    USD/CHF bulls need to catch their breath

  4. Forex News

    USD/CHF bullish above 0.9516/32 – Commerzbank

  5. Forex News

    USD/CHF ends week-long rally, hovers around 0.9650

Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!