1 Jul 2015
USD/CHF: Reluctant to sustain break higher – Commerzbank
FXStreet (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank, gives the technical outlook and key levels for USD/CHF.
Key Quotes
“USD/CHF is side lined – it has recently charted a key day reversal to the downside but not taken out any support of note and for now we will just assume a reluctance to sustain a break higher.”
“The market recently reversed from .9435 and a close above here is needed to trigger a recovery to the .9543 end of May high and the top of the cloud resistance at .9581. Dips lower should find some support circa .9178/50, this should ideally now hold the downside – this effectively protects the .9072 May low.”
Key Quotes
“USD/CHF is side lined – it has recently charted a key day reversal to the downside but not taken out any support of note and for now we will just assume a reluctance to sustain a break higher.”
“The market recently reversed from .9435 and a close above here is needed to trigger a recovery to the .9543 end of May high and the top of the cloud resistance at .9581. Dips lower should find some support circa .9178/50, this should ideally now hold the downside – this effectively protects the .9072 May low.”