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28 Mar 2014
USD/CHF is settling for sub 0.89
FXStreet (Guatemala) - USD/CHF had reached a high if 0.8900 but has spent the rest of Fridays sessions consolidating around 0.8870.
USD/CHF had rebounded off the 0.8777 support, which is the end of February low and continues to push hard into the 38.2% retracement at 0.8873. Karen Jones, chief analyst at Commerzbank said, “This is now exposed and once this is cleared we should see gains towards initially to the 0.8927/30 26th February high and eventually the 200 day ma at 0.9107. We view the market as basing, but below 0.8784 would trigger losses to 0.8735, the last defence for the 0.8698 recent low’.
USD/CHF Levels
The 20 DMA is 0.8800, the 50 DMA is 0.8904 and the 200 DMA is 0.9105. RSI (14) reads 50.02. Supports are ascending from 0.8787, 0.8826, 0.8841 and 0.8853. Spot is 0.8867 while resistances are 0.8880, 0.8895, 0.8919 and 0.8930.
USD/CHF had rebounded off the 0.8777 support, which is the end of February low and continues to push hard into the 38.2% retracement at 0.8873. Karen Jones, chief analyst at Commerzbank said, “This is now exposed and once this is cleared we should see gains towards initially to the 0.8927/30 26th February high and eventually the 200 day ma at 0.9107. We view the market as basing, but below 0.8784 would trigger losses to 0.8735, the last defence for the 0.8698 recent low’.
USD/CHF Levels
The 20 DMA is 0.8800, the 50 DMA is 0.8904 and the 200 DMA is 0.9105. RSI (14) reads 50.02. Supports are ascending from 0.8787, 0.8826, 0.8841 and 0.8853. Spot is 0.8867 while resistances are 0.8880, 0.8895, 0.8919 and 0.8930.