USD/CHF buy the dips to 0.8930/0.8890? – Commerzbank

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Edinburgh) - In the opinion of Karen Jones, Head of FICC Technical Analysis at Commerzbank, pullbacks to the area of 0.8930/0.8890 should be seen as buying opportunities.



Key Quotes



USD/CHF ended the week by recovering to the 200 day ma at .8950. We look for the market to slowly erode overhead resistance offered by the recent high at .9036, the 78.6% retracement at .9048 and the 55 week ma at .9042”.



“We suspect that these will all need to be cleared in order to regenerate real upside interest we suspect.”



“For now dips back to the .8930/.8890 band should be regarded as buying opportunities ahead of the .8856 recent low”.



You May Also Like

Related Forex Analysis
  1. Weekly Trading Forecast: Volatility Keeps Boiling in the FX Market
    Forex News

    Weekly Trading Forecast: Volatility Keeps Boiling in the FX Market

  2. USD/CHF rallies to weekly highs after Draghi
    Forex News

    USD/CHF rallies to weekly highs after Draghi

  3. USD/CHF Technical Analysis: Franc Short Remains Active
    Forex News

    USD/CHF Technical Analysis: Franc Short Remains Active

  4. USD/CHF Nears Important Support Line
    Forex News

    USD/CHF Nears Important Support Line

  5. USD/CHF hovering around 0.9570
    Forex News

    USD/CHF hovering around 0.9570

Trading Center