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4 Mar 2015
USD/CHF eroding Fibo resistance – Commerzbank
FXStreet (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank, notes USD/CHF is trying to erode the Fibo resistance at 0.9623/25, a break above which might pave way for 0.9818.
Key Quotes
“USD/CHF has reached the .9623/25, 78.6% retracement of the sell off seen in January and is trying t erode this now.”
“Dips lower will find key support at the .9360 October 2014 low and ahead of here lies a short term uptrend at .9471.”
“The resistance at .9625 is expected to act as the break point to the .9818 December 2014 high.”
“This market is bid above .9360, failure here will target the February low at .9177 and then .9080/00 zone. Ahead of here lies the .9455 support line”
Key Quotes
“USD/CHF has reached the .9623/25, 78.6% retracement of the sell off seen in January and is trying t erode this now.”
“Dips lower will find key support at the .9360 October 2014 low and ahead of here lies a short term uptrend at .9471.”
“The resistance at .9625 is expected to act as the break point to the .9818 December 2014 high.”
“This market is bid above .9360, failure here will target the February low at .9177 and then .9080/00 zone. Ahead of here lies the .9455 support line”