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- USD/CHF to continue the correction higher on a break above 0.9173 – Commerzbank
USD/CHF to continue the correction higher on a break above 0.9173 – Commerzbank
FXStreet reports that 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.
“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.”
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