USD/CHF: Buy the dips circa 0.9850? - Commerzbank

Dhwani Mehta FXStreet

Karen Jones, Analysts at Commerzbank, notes that the USD/CHF pair has stalled its upside below 1.0000 while the 25^th June lows of 0.9856 is likely to keep the downside cushioned.

Key Quotes:

“USD/CHF has recently again pulled back to .9900/.9880 and is holding 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 .9740.”

“Failure at 9740/24 (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.”

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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