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13 Apr 2015
USD/CHF further gains possible – Commerzbank
FXStreet (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank, sees further gains possible for USD/CHF towards 0.9818 and even 1.0000.
Key Quotes
“USD/CHF saw strong recovery off its 200 day ma and towards the end of last week took out the .9760 31st March high and this is now expected to yield.”
“We look for further gains to the early December high at .9818 and more significant resistance at 1.0000 and also at the March high at 1.0128 should be reached.”
“Only a move above 1.0128 would be regarded as the break up point to the 1.0240 mid-January high and the 1.0295 January 5 high, however.”
“Current Position: Long .9605.Recommended Trade: Raise the stop from .9550 to .9590 and target at 1.0000.”
Key Quotes
“USD/CHF saw strong recovery off its 200 day ma and towards the end of last week took out the .9760 31st March high and this is now expected to yield.”
“We look for further gains to the early December high at .9818 and more significant resistance at 1.0000 and also at the March high at 1.0128 should be reached.”
“Only a move above 1.0128 would be regarded as the break up point to the 1.0240 mid-January high and the 1.0295 January 5 high, however.”
“Current Position: Long .9605.Recommended Trade: Raise the stop from .9550 to .9590 and target at 1.0000.”