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29 Jun 2015
USD/CHF: long for 0.9530 – Commerzbank
FXStreet (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank, maintains a long position on USD/CHF, targeting 0.9530 levels, and expecting any dips to find support at 0.9300/0.9285.
Key Quotes
“USD/CHF is again eroding the 2 month downtrend. This is located at .9355 A close above here should be enough to trigger a recovery to the .9543 end of May high and the top of the cloud resistance at .9600.”
“Dips lower should find some support circa .9300/.9285. Last weeks low at .9150 should ideally now hold the downside – this effectively protects the .9072 May low.”
“Current Position: Long .9320. Recommended Trade: add .9285, stop .9250. Exit .9530”
Key Quotes
“USD/CHF is again eroding the 2 month downtrend. This is located at .9355 A close above here should be enough to trigger a recovery to the .9543 end of May high and the top of the cloud resistance at .9600.”
“Dips lower should find some support circa .9300/.9285. Last weeks low at .9150 should ideally now hold the downside – this effectively protects the .9072 May low.”
“Current Position: Long .9320. Recommended Trade: add .9285, stop .9250. Exit .9530”