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27 May 2014
USD/CHF targets 0.8991 – Commerzbank
FXStreet (Edinburgh) - Karen Jones, Head of FICC Technical Analysis at Commerzbnak, sees the USD/CHF testing its 200-d MA at 0.8991 shortly.
Key Quotes
“USD/CHF is probing .8967/the 23.6% retracement of the 2013-2014 move and will shortly encounter its 200 day moving average at .8991, this is likely to hold the initial test ahead of further gains to the 55 week moving average at .9099”.
“Dips will ideally hold .8960/.8900, further support comes in at the .8851 late April high and further down around the .8800 mark and at .8771, the late April low”.
Key Quotes
“USD/CHF is probing .8967/the 23.6% retracement of the 2013-2014 move and will shortly encounter its 200 day moving average at .8991, this is likely to hold the initial test ahead of further gains to the 55 week moving average at .9099”.
“Dips will ideally hold .8960/.8900, further support comes in at the .8851 late April high and further down around the .8800 mark and at .8771, the late April low”.