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14 May 2015
USD/CHF remains a short for 0.9075 – Commerzbank
FXStreet (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank, prefers remaining short on USD/CHF and suggests selling spikes towards 0.9300, targeting 0.9075.
Key Quotes
“USD/CHF has stalled ahead of the April low at .9484 and 200 day ma at .9511. Failure here has concentrated attention on the downside and in particular on to the .9072/70 recent low and Fibonacci retracement.”
“Below .9070 would see another downside target of .8744 engage this is the 50% retracement of the move up from the January spike low.”
“Current Position: Short .9271. Recommended Trade: add to shorts at .9300 if seen – stops over .9360. Cover .9075.”
Key Quotes
“USD/CHF has stalled ahead of the April low at .9484 and 200 day ma at .9511. Failure here has concentrated attention on the downside and in particular on to the .9072/70 recent low and Fibonacci retracement.”
“Below .9070 would see another downside target of .8744 engage this is the 50% retracement of the move up from the January spike low.”
“Current Position: Short .9271. Recommended Trade: add to shorts at .9300 if seen – stops over .9360. Cover .9075.”