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14 Apr 2015
USD/CHF consolidation before gains – Commerzbank
FXStreet (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank, expects near-term consolidation for USD/CHF before further gains might be realized towards 1.0000.
Key Quotes
“USD/CHF has not managed to maintain a break above the early December high at .9818 and we suspect will consolidate very near term.”
“Beyond .9862 (yesterdays high) more significant resistance at 1.0000 and also at the March high at 1.0128 should be reached.”
“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.”
“We have a 3 month support line at .9614 but key support is the April low at .9484. Below .9484 would negate this view and trigger losses towards the .9347 2nd February high.”
“Current Position: Long .9605.Recommended Trade: Raise the stop from .9590 to .9610 and target at 1.0000.”
Key Quotes
“USD/CHF has not managed to maintain a break above the early December high at .9818 and we suspect will consolidate very near term.”
“Beyond .9862 (yesterdays high) more significant resistance at 1.0000 and also at the March high at 1.0128 should be reached.”
“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.”
“We have a 3 month support line at .9614 but key support is the April low at .9484. Below .9484 would negate this view and trigger losses towards the .9347 2nd February high.”
“Current Position: Long .9605.Recommended Trade: Raise the stop from .9590 to .9610 and target at 1.0000.”