USD/CHF: rallies face resistance at 0.9646 – Commerzbank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 22, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, bullish attempts in the pair could struggle around the 0.9646 level.

    Key Quotes

    USD/CHF the market has recovered enough to stop out our short positions but not done enough to restore upside pressure so the chart pattern is in limbo”.

    “The market still oscillates around the 200 day ma at .9515 and rallies will find initial resistance at .9646, the 13 October high”.

    “Key resistance is the 2001-2015 downtrend lies at .9855 – we look for this to eventually to be eroded but not yet”.
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