USD/CHF stabilising here – Commerzbank

Sandeep Kanihama FXStreet Contributor

According to Axel Rudolph, analyst at Commerzbank, USD/CHF stabilised marginally above the 61.8% Fibonacci retracement at .9800/.9799.

Key Quotes

“Only failure at .9799 would push key support at .9716/.9695 to the fore. It is the location of the January, June, mid- and late August lows. Below it sit the .9659 August low and the September 2018 low at .9543.”

“Resistance above the recent lows at .9841/56 can be seen at the .9869 mid-November low and also in the .9900 region. Above it the December 6 high and the 55 day moving average can be spotted at .9919/22. While trading below the .9919/22 resistance area, we consider the cross to be vulnerable. Key resistance remains to be seen at the 1.0014/28 mid-June and October as well as November peaks.”

“A rise above the 1.0028 level would target the November 2018 high at 1.0128 and the April peak at 1.0240.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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