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10 Feb 2014
USD/CHF trying to stabilise
FXStreet (Guatemala) - USD/CHF is trying to stabilise after losing a big figure since Thursday and the NFP’s on Friday.
Strategists at Commerzbank noted also that USD/CHF sold off post NFP tested but held the 0.8964 6 week support line and once again is attempting to recover. “While above here we will continue to look for signs of stabilisation and recovery. Rallies will need to regain .9082 to retarget the 0.9164/38.2% retracement of the move down from July”. Karen Jones, chief analyst at Commerzbank explained that the market is not out of the woods yet however, the intraday charts remain negative and loss of the 0.8964 support line is likely to trigger a slide back to 0.8876, the 78.6% retracement.
USD/CHF Levels
The 20 DMA is 0.9026, the 50 DMA is 0.8988 and the 200 DMA is 0.9210. RSI (14) reads 37.95. Supports are ascending from 0.8883, 0.8904, 0.8933. Spot is 0.8968 while resistances are 0.8989, 0.9022, 0.9065, 0.9082 and 0.9134.
Strategists at Commerzbank noted also that USD/CHF sold off post NFP tested but held the 0.8964 6 week support line and once again is attempting to recover. “While above here we will continue to look for signs of stabilisation and recovery. Rallies will need to regain .9082 to retarget the 0.9164/38.2% retracement of the move down from July”. Karen Jones, chief analyst at Commerzbank explained that the market is not out of the woods yet however, the intraday charts remain negative and loss of the 0.8964 support line is likely to trigger a slide back to 0.8876, the 78.6% retracement.
USD/CHF Levels
The 20 DMA is 0.9026, the 50 DMA is 0.8988 and the 200 DMA is 0.9210. RSI (14) reads 37.95. Supports are ascending from 0.8883, 0.8904, 0.8933. Spot is 0.8968 while resistances are 0.8989, 0.9022, 0.9065, 0.9082 and 0.9134.