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28 Mar 2014
USD/CHF potential upside above 0.8873 – Commerzbank
FXStreet (Edinburgh) - Karen Jones, Head of FICC Technical Analysis at Commerzbank, suggests that a break above 0.8873 would allow an extension of the up-move.
Key Quotes
“USD/CHF has now tested and held below the 38.2% retracement at .8873 for 4 times now, it is struggling to build upside momentum however while dips hold over the .8777 support, which is the end of February low, it should maintain an upside bias”.
“Once .8873 is cleared on a closing basis, we should see gains towards initially to the .8927/30 26thFebruary high and eventually the 200 day ma at .9103”.
Key Quotes
“USD/CHF has now tested and held below the 38.2% retracement at .8873 for 4 times now, it is struggling to build upside momentum however while dips hold over the .8777 support, which is the end of February low, it should maintain an upside bias”.
“Once .8873 is cleared on a closing basis, we should see gains towards initially to the .8927/30 26thFebruary high and eventually the 200 day ma at .9103”.