USD/CHF upside bias beyond 0.9050 – Commerzbank

By FXstreet.com | July 04, 2014 AAA

FXStreet (Edinburgh) - In the opinion of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair needs to recover the 0.9050 area in order to rebuild upside interest.



Key Quotes



USD/CHF has seen a strong recovery through the .8909/38.2% retracement”.



“This recovery has been enough to alleviate downside pressure but will need to overcome the 200 day ma at .8950, the recent high at .9036, the 78.6% retracement at .9048 and the 55 week ma at .9048 in order to regenerate real upside interest we suspect”.



“For now dips back to the .8920/.8890 band should be regarded as buying opportunities ahead of the .8856 recent low”.



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