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23 Apr 2015
USD/CHF sees a strong bounce from the April low at 0.9484 – Commerzbank
FXStreet (Barcelona) - With USD/CHF posting a recovery, Karen Jones, Head of Technical Analysis at Commerzbank, maintains a bullish view on the pair, targeting 0.9750.
Key Quotes
“USD/CHF has seen strong recovery off key support offered by the April low at .9484 and 200 day ma at .9490 and while underpinned here an upside bias will remain.”
“Initial resistance is the 0.9766 resistance line but the rebound will need to regain the .9862 peak to retarget 1.00 and above.”
“Only a close below .9484 would trigger losses towards the .9347 2nd February high and beyond.”
“Current Position: Longs from .9495 partially covered .9615. Recommended Trade: For the remainder raise stops from .9480 to .9600. Exit the remainder .9750.”
Key Quotes
“USD/CHF has seen strong recovery off key support offered by the April low at .9484 and 200 day ma at .9490 and while underpinned here an upside bias will remain.”
“Initial resistance is the 0.9766 resistance line but the rebound will need to regain the .9862 peak to retarget 1.00 and above.”
“Only a close below .9484 would trigger losses towards the .9347 2nd February high and beyond.”
“Current Position: Longs from .9495 partially covered .9615. Recommended Trade: For the remainder raise stops from .9480 to .9600. Exit the remainder .9750.”