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6 May 2015
USD/CHF: short for 0.9180 - Commerzbank
FXStreet (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank, notes USD/CHF remains offered whilst below 0.9484, and further remains short on the pair, targeting 0.9180.
Key Quotes
“USD/CHF remains directly offered while we continue to trade below the April low at .9484 and 200 day ma at .9507 – we view market as having topped short term. While capped by the .9658 resistance line, a negative bias will persist. Intraday rallies are indicated to terminate circa .9320/75.”
“Current Position: Holding small shorts .9425. Recommended Trade: lower the stop from .9505 to .9485. Partially cover .9180 and exit the remainder .9070.”
Key Quotes
“USD/CHF remains directly offered while we continue to trade below the April low at .9484 and 200 day ma at .9507 – we view market as having topped short term. While capped by the .9658 resistance line, a negative bias will persist. Intraday rallies are indicated to terminate circa .9320/75.”
“Current Position: Holding small shorts .9425. Recommended Trade: lower the stop from .9505 to .9485. Partially cover .9180 and exit the remainder .9070.”