FXStreet (Barcelona) – Karen Jones, Head of Technical Analysis at Commerzbank, offers the outlook and key levels for USD/CHF.
Key Quotes
“USD/CHF has eased back to and held the previous downtrend at 0.9409 today. The market is looking a bit perkier as it has completely ignored the recent key day reversal to the downside and has eroded the near term resistance line to head into the middle of the cloud. We would allow for an attempt on the 200 day ma and the May high at .9529/43 and the top of the cloud at .9570.”
“Dips lower should find some support circa .9344, and .9243, this should ideally now hold the downside – this effectively protects the .9215 recent low and the.9072 May low.”
(Market News Provided by FXstreet)