USD/CHD bullish above 0.8891 – Commerzbank

By FXstreet.com | June 24, 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”.



comments powered by Disqus
Related Forex Analysis
  1. AUD/USD Recovery Hopes Fade With Reversal Pattern Lacking Confirmation
    Forex News

    AUD/USD Recovery Hopes Fade With Reversal Pattern Lacking Confirmation

  2. USD/JPY bulls need to take a breath before a new attack at 110.00
    Forex News

    USD/JPY bulls need to take a breath before a new attack at 110.00

  3. Crude Oil Recovers Ahead Of Inventories, Platinum Hits Multi-Year Low
    Forex News

    Crude Oil Recovers Ahead Of Inventories, Platinum Hits Multi-Year Low

  4. GBP/USD nervous below 1.6200, waiting for data
    Forex News

    GBP/USD nervous below 1.6200, waiting for data

  5. Dollar’s Current Bull Leg Strongest since Rally Through Crisis
    Forex News

    Dollar’s Current Bull Leg Strongest since Rally Through Crisis

Trading Center