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10 Apr 2015
USD/CHF probing 0.9760, eyeing higher levels – Commerzbank
FXStreet (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank, believes that as long as USD/CHF remains above 0.9484, a potential upside test of 0.9818 will remain on the cards.
Key Quotes
“USD/CHF is probing the .9760 31st March high and this is now expected to yild. It continues to rebound off .9484, and while it holds, resistance around the early December high at .9818 and more significant resistance at 1.0000 and also at the March high at 1.0128 should be reached.”
“Only a move above 1.0128 would be regarded as the break up point to the 1.0240 mid-January high and the 1.0295 January 5 high, however.”
“Below .9484 would negate this view and trigger losses towards the .9347 2nd February high.”
Key Quotes
“USD/CHF is probing the .9760 31st March high and this is now expected to yild. It continues to rebound off .9484, and while it holds, resistance around the early December high at .9818 and more significant resistance at 1.0000 and also at the March high at 1.0128 should be reached.”
“Only a move above 1.0128 would be regarded as the break up point to the 1.0240 mid-January high and the 1.0295 January 5 high, however.”
“Below .9484 would negate this view and trigger losses towards the .9347 2nd February high.”