USD/CHF: A break above 1.0000 targets 1.0057 - Commerzbank
|Karen Jones, Analysts at Commerzbank, notes that the USD/CHF pair holds its near-term uptrend, but needs a break above 1.0000 for further upside.
Key Quotes:
“USD/CHF has pulled back to .9900/.9880 and recovered from here. While above here it remains well placed to tackle resistance at .9990/1.0000. Above 1.0000 targets 1.0057, the recent high. This guards the 1.0093/1.0108 (April 2017 high and 78.6% retracement) and then 1.0343, the 2016 high. The .9856 25th June low guards the recent low at .9789 and the 200-day ma at .9736.
Failure at 9736/24 (38.2% retracement + 200-day ma) will target the .9535 10th April low and below here will trigger losses to .9425, the 14th March low.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.