USD/CHF focus on 0.9036 – Commerzbank

By FXstreet.com | July 17, 2014 AAA

FXStreet (Edinburgh) - According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the recent price action would suggest a new visit to the 0.9036 level, recent high.



Key Quotes



USD/CHF has seen follow through buying following the close above its 200 day ma at .8945 and is well placed to tackle overhead resistance offered by the recent high at .9036, the 78.6% retracement at .9048 and the 55 week ma at .9032”.



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



“We continue to target the 200 week ma at .9174 slightly longer term”.



“We note the 13 count on the 240 minute chart and the TD resistance at .8995, this suggests some consolidation ahead of further gains”.



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