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27 Mar 2015
USD/CHF bounces off the 0.9455/22 support zone – Commerzbank
FXStreet (Barcelona) - Axel Rudolph, Analyst at Commerzbank, notes that USD/CHF remains bid whilst above 0.9455/0.9422.
Key Quotes
“On Thursday USD/CHF slipped to .9491, close to the 55- and 200-day moving averages at .9455/.9422, 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 are thus back 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 .9455/.9422 can be seen around the early February high at .9347”
“Shorter term (1-3 weeks): Bid while above the 55- and 200-day moving averages at .9455/.9422.”
“Medium term (1-3 months): Should oscillate between the .9400 and 1.0250 levels.”
Key Quotes
“On Thursday USD/CHF slipped to .9491, close to the 55- and 200-day moving averages at .9455/.9422, 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 are thus back 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 .9455/.9422 can be seen around the early February high at .9347”
“Shorter term (1-3 weeks): Bid while above the 55- and 200-day moving averages at .9455/.9422.”
“Medium term (1-3 months): Should oscillate between the .9400 and 1.0250 levels.”