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Trading news
16 Aug 2016
USD/CHF weaker, could test 0.9634 – Commerzbank
In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair’s current downside could extend towards 0.9634.
Key Quotes
“USD/CHF charted an inside day yesterday, which leaves it still on the defensive following its failure last week just ahead of the 200 day ma at .9852. We would allow for losses back to .9685 and .9634, the recent low”.
“The market will need to recover at least above 0.9800 to retarget the topside of the range at .9930/50”.
“Above the .9950 resistance lies at .9990/1.00. This is the 61.8% retracement of the move down from November 2015”.