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Oct 26, 2015
USD/CHF remains bullish in the long run – Commerzbank
FXStreet (Edinburgh) - The long-term outlook on the pair remains tilted to the bullish side, according to Karen Jones, Head of FICC Technical Analysis at Commerzbank.
Key Quotes
“USD/CHF saw an impressive rally higher last week and attention is back on the key resistance offered by the 2001-2015 downtrend at .9855”.
“Very near term the market is stalling at the 2 month resistance line at .9805”.
“While we would expect to see this hold the initial test – we look for this to eventually to be eroded and remain longer term bullish. Above 9855 would target .9903 the August high and .9972, the 2012 highs initially”.
Key Quotes
“USD/CHF saw an impressive rally higher last week and attention is back on the key resistance offered by the 2001-2015 downtrend at .9855”.
“Very near term the market is stalling at the 2 month resistance line at .9805”.
“While we would expect to see this hold the initial test – we look for this to eventually to be eroded and remain longer term bullish. Above 9855 would target .9903 the August high and .9972, the 2012 highs initially”.