USD/CHF: Bid near term – Commerzbank
|
Karen Jones, analyst at Commerzbank, suggests that the USD/CHF pair is a bid near term and faces resistance initially at the 1.0052/15th March high and the 1.0075/78.6% retracement.
Key Quotes
“It is possible that we will see the market stall here and ease back to the 200 day ma at .9927. This guards the March low at .9895 and the .9866 6 month support line and the .9716 recent low.”
“The 1.0075/78.6% retracement, is viewed as the last defence for the top of the range at 1.1028, where we would again allow for failure.”
“A break above the 1.0128 November high would introduce scope to the 1.0343 December 2016 peak.”
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.