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USD/CHF first hurdle at 0.9903 – Commerzbank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 14, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - Karen Jones, Head of FICC Technical Analysis at Commerzbank, sees the first barrier for the pair around he 0.9900 handle.

    Key Quotes

    USD/CHF has sold off to the .9802 61.8% retracement, this has not been confirmed by the daily RSI and we will look to start buying back our dollar long positions”.

    “We have seen a small bounce, but this has not done enough to overcome even the .9903 August high, which is the first resistance”.

    “We suspect it will need to regain 1.00 in order to alleviate downside pressure”.

    “Below the market we find the 3 month uptrend at .9715 and the 200 day ma at .9654. If reached, we should see this hold”.
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