USD/CHF Initially Supported at 0.9620/45 – Commerzbank
According to Karen Jones, Head of FICC Technical Analysis at
Commerzbank, occasional pullbacks in the pair should find support in the
0.9620/45 band.
Key Quotes
“USD/CHF has maintained upside pressure following its reversal day charted on Tuesday”.
“The
rally higher has corrected its oversold RSI and given the TD perfected
set up and the reversal just ahead of the October 2015 low, we suspect
that the market has based”.
“We have rallied to the February low
at .9660 and previous downtrend at .9684 (which is now resistance) and
would allow for this to hold the initial test ahead of gains to the
.9827 200 day ma”.
“Dips will find minor support at .9620/45 ahead of the .9560”.
(Market News Provided by FXstreet)
