Back
20 Apr 2015
USD/CHF: long for 0.9800 – Commerzbank
FXStreet (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank, suggests remaining long on USD/CHF as long as the pair remains above 0.9478 on a closing basis.
Key Quotes
“USD/CHF last week sold off to key support offered by the April low at .9484 and 200 day ma at .9478. This held the initial test, the rebound from here will need to regain the .9862 peak to retarget 1.00 and above. Meanwhile a close below .9478 would trigger losses towards the .9347 2nd February high and beyond.”
“Current Position: Longs reinstated .9495. Recommended Trade: Raise stops from .9450 to .9480. Exit .9800”
Key Quotes
“USD/CHF last week sold off to key support offered by the April low at .9484 and 200 day ma at .9478. This held the initial test, the rebound from here will need to regain the .9862 peak to retarget 1.00 and above. Meanwhile a close below .9478 would trigger losses towards the .9347 2nd February high and beyond.”
“Current Position: Longs reinstated .9495. Recommended Trade: Raise stops from .9450 to .9480. Exit .9800”