USD/CHF: wait for the range to break
Thursday, December 6, 2012 - 12:48
USD/CHF keeps consolidating in the 0.9300/9240 area. Today’s trading range is even narrower (0.9280/55).
Commerzbank is long USD/CHF at 0.9264 with stop at 0.9215 and target of 0.9500. UBS, on the other hand remains bearish. We recommend staying pat until the range is breached. Tomorrow’s NFP release in the US (13:30 GMT) may finally shake the market and provide the necessary driver to either side.
Resistance: 0.9300, 0.9350 (55-day MA), 0.9420 (200-day MA).
Support: 0.9240, 0.9125, 0.9180, 0.9100.
Chart. Daily USD/CHF
No comments:
Post a Comment