USD/CHF Upside Capped by 0.9787/0.9834 So Far – Commerzbank

USD/CHF Upside Capped by 0.9787/0.9834 So Far – Commerzbank

2 May 2016, 09:45
Roberto Jacobs
0
5

USD/CHF Upside Capped by 0.9787/0.9834 So Far – Commerzbank

According to Senior Technical Analyst at Commerzbank Axel Rudolph, further gains in spot could face a strong hurdle in the 0.9787/0.9834 band.

Key Quotes

USD/CHF slipped below the April 19 low at .9584 below which lies the April trough at .9499”.

“The topside remains capped by tough resistance at .9787/.9834 area (the December low, late March high and the 200 day moving average)”.

“Intraday rallies are indicated to fail at the February and mid-March lows at .9651/60. This guards the resistance line at .9739 and the April high at .9797”.


fxs_logo_news.png

Share it with friends: