USD/CHF faces decent resistance at 0.9947/75 – Commerzbank
|In opinion of Axel Rudolph, Senior FICC Technical Analyst at Commerzbank, further upside momentum in USD/CHF should face good resistance in the 0.9947/75 band.
Key Quotes
“Last week USD/CHF has been repelled by the 200 day ma at .9950 with the 55 day ma at .9846 thus being back in the picture for this week”.
“Failure at the next lower .9799 current September low would push key support at .9716/.9659 to the fore. It is the location of the January, June, mid- and late August lows”.
“Below the .9659 August low lies the .9543 September 2018 low”.
“Good resistance comes in between the July, August and current September highs at .9947/75. Above it sits the mid-June high at 1.0014”.
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.