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17 Jul 2015
USD/CHF bid above 0.9353 – Commerzbank
FXStreet (Edinburgh) - In the view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair remains bullish while above the 0.9353 level.
Key Quotes
“USD/CHF has eroded the 200 day ma at .9525 and the May high at .9543. This has introduced scope to the .9600 then .9725 50% and 61.8% retracement of the move down from the March high”.
“Dips will find initial support at the 0.9392 support line ahead of the 0.9353 55 day ma. While above here we will assume that the market remains bid. This guards the .9072 May low”.
Key Quotes
“USD/CHF has eroded the 200 day ma at .9525 and the May high at .9543. This has introduced scope to the .9600 then .9725 50% and 61.8% retracement of the move down from the March high”.
“Dips will find initial support at the 0.9392 support line ahead of the 0.9353 55 day ma. While above here we will assume that the market remains bid. This guards the .9072 May low”.