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5 Oct 2015
USD/CHF: a test of 0.9538/27 is not ruled out – Commerzbank
FXStreet (Edinburgh) - Karen Jones, Head of FICC Technical Analysis at Commerzbank, sees the chance of spot to test recent lows in the 0.9538/27 area.
Key Quotes
“USD/CHF saw a small erosion of its support line at .9667 on Friday”.
“Given the 2001-2015 downtrend lies at .9855 – we are neutral but at this point are unable to ignore the possibility of a test of the 200 day ma and the recent low at .9538/27”.
“A close above .9855 would be significant and is needed for a move to psychological resistance at 1.0000 and the 2015 high at 1.0295 to be reached”.
Key Quotes
“USD/CHF saw a small erosion of its support line at .9667 on Friday”.
“Given the 2001-2015 downtrend lies at .9855 – we are neutral but at this point are unable to ignore the possibility of a test of the 200 day ma and the recent low at .9538/27”.
“A close above .9855 would be significant and is needed for a move to psychological resistance at 1.0000 and the 2015 high at 1.0295 to be reached”.