USD/CHF sees further weakness towards 0.9484 – Commerzbank
FXStreet (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank, expects USD/CHF to additional weakness towards 0.9484 today, with the pair having broken below the 55 DMA.
Key Quotes
“USD/CHF has eroded the 55 day ma and this suggests further weakness to key support offered by the April low at .9484 and 200 day ma at .9478. Only below .9478 would negate a general positive bias and trigger losses towards the .9347 2nd February high.”
“Beyond .9862 (this weeks high) lies more significant resistance at 1.0000 and the March high at 1.0128. 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.”