According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair could attempt another visit to the psychological 1.0000 level. Key Quotes “USD/CHF has seen a decent recovery from the short term support line at .9902. We can only assume at this point that it is gearing up for another challenge of psychological resistance at 1.0000. This guards the May high at 1.0057. The May high at 1.0057 guards 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”. “Failure here will alleviate upside pressure and signal a slide towards .9757/24 (38.2% retracement + 200 day ma) where ideally we will see the market stabilise”. 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 EUR/USD solid support seen at 1.1570 – UOB FX Street 5 years According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair could attempt another visit to the psychological 1.0000 level. Key Quotes "USD/CHF has seen a decent recovery from the short term support line at .9902. We can only assume at this point that it is gearing up for another challenge of psychological resistance at 1.0000. This guards the May high at 1.0057. The May high at 1.0057 guards 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". "Failure here will alleviate… 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.
