Neutral outlook in USD/CHF – Commerzbank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 8, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The recent price action in the pair has turned the outlook to neutral, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank.

    Key Quotes

    USD/CHF trades back above the 55 day ma at .9700 now that it has again bounced off the 61.8% Fibonacci retracement at .9657”.

    “Given the 2001-2015 downtrend lies at .9855 – we are neutral. Below here a slide back to the 200 day ma and the recent low at .9535/27 may still ensue”.

    “A close above .9855 would be significant and is needed for a move to psychological resistance at 1.0000 and the 2015 high at 1.0295 to be reached”.
    For more information, read our latest forex news.

Share This Page

free forex signals