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8 Sep 2015
USD/CHF: strong resistance at 0.9765/0.9800 – Commerzbank
FXStreet (Edinburgh) - Karen Jones, Head of FICC Technical Analysis at Commerzbank, noted the significant up barrier in the 0.9765/0.9800 area.
Key Quotes
“USD/CHF has failed to crack the 78.6% Fibonacci retracement at .9765 for the fourth time”.
“This together with the 17th August high at .9800 represent key near term resistances for the market”.
“We will need to see a close above .9800 to trigger a retest of the .9903 recent high. A close above here is needed for a move to the psychological resistance at 1.00 and the 2015 high at 1.0295”.
Key Quotes
“USD/CHF has failed to crack the 78.6% Fibonacci retracement at .9765 for the fourth time”.
“This together with the 17th August high at .9800 represent key near term resistances for the market”.
“We will need to see a close above .9800 to trigger a retest of the .9903 recent high. A close above here is needed for a move to the psychological resistance at 1.00 and the 2015 high at 1.0295”.