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31 Mar 2015
USD/CHF set to move towards 1.0100 – Commerzbank
FXStreet (Barcelona) - Axel Rudolph, Analyst at Commerzbank, maintains the bullish view on USD/CHF, anticipating a move towards 1.0100.
Key Quotes
“Last week USD/CHF slipped to .9491, close to the 23.6% Fibonacci retracement and the 55- and 200-day moving averages at .9475/.9429, before bouncing back.”
“Minor resistance around the early December high at .9818 and more significant resistance at 1.0000 and also at the current March high at 1.0128 remain in the picture.”
“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.”
“Support below .9475/.9429 can be seen around the early February high at .9347.”
Key Quotes
“Last week USD/CHF slipped to .9491, close to the 23.6% Fibonacci retracement and the 55- and 200-day moving averages at .9475/.9429, before bouncing back.”
“Minor resistance around the early December high at .9818 and more significant resistance at 1.0000 and also at the current March high at 1.0128 remain in the picture.”
“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.”
“Support below .9475/.9429 can be seen around the early February high at .9347.”