FXStreet (Edinburgh) – In the view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the door is open for a test of 0.9543 if the pair closes above 0.9373.
Key Quotes
“USD/CHF is sitting just below the 2 month downtrend at .9373. A close above here will be necessary in order to trigger a recovery to the .9543 end of May high and the top of the cloud resistance at .9600. This has not yet been seen and we would allow for a small pullback near term”.
“Dips lower should find some support circa .9270/30, last weeks low at .9150 should ideally now hold the downside – this effectively protects the .9072 May low”.
(Market News Provided by FXstreet)