USD/CHF: long for 0.9530 – Commerzbank

FXStreet (Barcelona) – Karen Jones, Head of Technical Analysis at Commerzbank, maintains a long position on USD/CHF, targeting 0.9530 levels, and expecting any dips to find support at 0.9300/0.9285.

Key Quotes

“USD/CHF is again eroding the 2 month downtrend. This is located at .9355 A close above here should be enough to trigger a recovery to the .9543 end of May high and the top of the cloud resistance at .9600.”

“Dips lower should find some support circa .9300/.9285. Last weeks low at .9150 should ideally now hold the downside – this effectively protects the .9072 May low.”

“Current Position: Long .9320. Recommended Trade: add .9285, stop .9250. Exit .9530”

Karen Jones, Head of Technical Analysis at Commerzbank, maintains a long position on USD/CHF, targeting 0.9530 levels, and expecting any dips to find support at 0.9300/0.9285.

(Market News Provided by FXstreet)