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Forex Flash: CAD/CHF potential upside ahead – Danske Bank

FXstreet.com (Barcelona) - After climbing to session highs above the key resistance at 0.9300 on Monday, the cross is now losing giving away part of those earlier gains and falling to the area of 0.9285/90.

According to A.Lohmann Rasmussen, Chief Analyst at Danske Bank, a base pattern would be carving out around the 100-week moving average at 0.9130 after bouncing off 0.8980, and this could be indicative of a new leg up.

“Clearing the 25 April high at .9290 can spark further strength towards the 27 March high at .9395 initially. Above here opens the way for a return to the 200-week moving average at .9480, just ahead of a confluence of resistance in the 0.9515/0.9630 area”, concluded the expert.

Forex: USD/CHF Testing Critical Highs 0.9400

The Swissie could be posed to break daily and weekly fib resistance levels
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Forex Flash: GBP/USD to fail 1.5600/25 or at 1.5759/82 at best – Commerzbank

As the GBP/USD remains below the 1.5600/25 resistance area, Commerzbank analysts still favor failure here: “The intraday charts are giving conflicting signals, though, and above 1.5625 we would allow for one more push higher to 1.5759/82 (200 day ma and 61.8% retracement) where we would expect to see failure”, he wrote, adding that the loss of the 1.5412 mid-April peak is needed to alleviate immediate upside pressure and signal a slide back to the 1.5298 uptrend line. “Failure here is needed to confirm the idea that the market has resumed its down move”, he continued, pointing to more losses towards 1.5028 (the 20th March low).
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