10 Aug 2015
USD/CHF still points to 0.9862 – Commerzbank
FXStreet (Edinburgh) - Axel Rudolph, Senior Technical Analyst at Commerzbank, reiterated the pair’s is still targeting the 0.9862 level.
Key Quotes
“USD/CHF still has the April high at .9862 in its sights. Above it the 78.6% Fibonacci retracement of the March-to-May decline at .9902 could also be reached in the days to come”.
“Minor support comes in around the .9720 late July high. While the next lower .9550 July 31 low underpins, upside pressure should be maintained. Only unexpected failure there would allow for an extension of the move lower to the 55 day moving average at .9464”.
Key Quotes
“USD/CHF still has the April high at .9862 in its sights. Above it the 78.6% Fibonacci retracement of the March-to-May decline at .9902 could also be reached in the days to come”.
“Minor support comes in around the .9720 late July high. While the next lower .9550 July 31 low underpins, upside pressure should be maintained. Only unexpected failure there would allow for an extension of the move lower to the 55 day moving average at .9464”.