In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair failed to close above the critical 1.0000 handle and may face some consolidative trading in the short term. Key Quotes “USD/CHF last week popped higher through psychological resistance at 1.0000 BUT did NOT close above here and may be in need of further consolidation near term. The May high at 1.0057 has been challenged and we look for gains to the 1.0093/1.0108 April 2017 high and 78.6% retracement. This is seen as the last defence for 1.0343, the 2016 high. This should prove tough resistance”. “Initial support offered by the 55 and 20 day ma at .9740/41 guards the .9858 July low”. “Dips lower should be contained by the .9858 9 th July low. Failure here will signal a slide towards .9748/24 (38.2% retracement + 200 day ma) where ideally we will see the market stabilise. Failure at 9724 will target the .9535 10th April low and below here will trigger losses to .9425, the 14th March low”. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next AUD/USD Review: reverses Chinese data-led dip, turns higher for the third consecutive session FX Street 5 years In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair failed to close above the critical 1.0000 handle and may face some consolidative trading in the short term. Key Quotes "USD/CHF last week popped higher through psychological resistance at 1.0000 BUT did NOT close above here and may be in need of further consolidation near term. The May high at 1.0057 has been challenged and we look for gains to the 1.0093/1.0108 April 2017 high and 78.6% retracement. This is seen as the last defence for 1.0343, the 2016 high. This should prove tough resistance". "Initial… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
