USD/CHF bullish above 0.9020 – Commerzbank

By FXstreet.com | August 21, 2014 AAA

FXStreet (Edinburgh) - Axel Rudolph, Senor Technical Analyst at Commerzbank, suggested the pair would remain bid above the 0.9020 level.



Key Quotes



USD/CHF made an eight month high at .9145 before sliding back down towards the previous August high at .9115”.



“Once a rise above .9145 has been made, the 200 week moving average at .9157 and then the 55 month moving average at .9349 will be targeted”.



“This held the topside in 2012 and 2013 and is expected to do so again, at least for several days. Above here, at .9392, lies the 29 year downtrend”.



Only unexpected failure at the current August low at .9020 would allow for losses back to the three month uptrend line and the 55 day moving average at .9009/.9000 to occur. While this holds the bull trend remains entrenched”.



comments powered by Disqus
Related Forex Analysis
  1. USD/CHF consolidating below 0.9550
    Forex News

    USD/CHF consolidating below 0.9550

  2. SNB in no hurry to hike - Goldman Sachs
    Forex News

    SNB in no hurry to hike - Goldman Sachs

  3. USD/CHF Technical Analysis: Pullback Sought to Get Long
    Forex News

    USD/CHF Technical Analysis: Pullback Sought to Get Long

  4. USD/CHF .9580 is a Reaction Level within Range
    Forex News

    USD/CHF .9580 is a Reaction Level within Range

  5. USD/CHF eases from weekly highs
    Forex News

    USD/CHF eases from weekly highs

Trading Center