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USD/CHF bid above 0.8987/88 – Commerzbank

FXStreet (Edinburgh) - In the view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair’s stance remains bullish above 0.8988/88.

Key Quotes

USD/CHF after stalling at the .9127 2014 high and the 0.9161 200 week ma for the past 2 weeks, the market continues to test the .9036 June high and we would allow for losses back to .8987/88, the 3 month uptrend and 55 day ma”.

“While this holds the bull trend remains entrenched”.

“We continue to target the 200 week ma at .9161 then the 55 month ma at 0.9349 slightly longer term”.

“This held the topside in 2012 and 2013 and is expected to be formidable. Above here at .9392 lies the 29 year downtrend”.

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