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27 Feb 2015
USD/CHF erodes the 55-day ma – Commerzbank
FXStreet (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank, notes USD/CHF has eroded the 55 day ma and the pair remains bid whilst above 0.9360, now targeting 0.9608/25 levels.
Key Quotes
“USD/CHF has eroded the 55 day ma and remains on course for the .9608/25, 78.6% retracement of the sell off seen in January. It remains bid while above the .9360 October 2014 low .”
“The resistance at .9608/25 is expected to act as the break point to the .9818 December 2014 high.”
“This market is bid above .9360, failure here will target the February low at .9177 and then .9080/00 zone.”
Key Quotes
“USD/CHF has eroded the 55 day ma and remains on course for the .9608/25, 78.6% retracement of the sell off seen in January. It remains bid while above the .9360 October 2014 low .”
“The resistance at .9608/25 is expected to act as the break point to the .9818 December 2014 high.”
“This market is bid above .9360, failure here will target the February low at .9177 and then .9080/00 zone.”