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.
“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”.