USD/CHF rises for the third consecutive day as the pair remains mildly bid while trading near 0.9160 on Tuesday. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, expects the USD/CHF pair to continue climbing above the 55-DMA at 0.9173 with potential to reach the six-month downtrend at 0.9456. Key quotes “USD/CHF has eroded its four-month downtrend. The close above here introduces scope for a deeper correction to the 55-day ma at 0.9173, which is currently holding and potentially the 38.2% retracement of the move down from the March peak at 0.9342.” “It should be noted that the market is possibly basing and above 0.9342 would suggest a test of the six-month downtrend at 0.9456.” “Dips should remain contained by 0.9078/48. Only a slide below 0.9048 will trigger a slide back to the 0.8998 recent 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 EUR/USD to face extra downside pressure FX Street 1 year USD/CHF rises for the third consecutive day as the pair remains mildly bid while trading near 0.9160 on Tuesday. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, expects the USD/CHF pair to continue climbing above the 55-DMA at 0.9173 with potential to reach the six-month downtrend at 0.9456. Key quotes “USD/CHF has eroded its four-month downtrend. The close above here introduces scope for a deeper correction to the 55-day ma at 0.9173, which is currently holding and potentially the 38.2% retracement of the move down from the March peak at 0.9342.” “It should be noted that the market… Top 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.
