Commerzbank: trade idea for USD/CHF
Buy limit: 0.9120
USD/CHF is trading at the highest levels since November 2013 and is now above the 200-week MA at 0.9170. Commerzbank says that the outlook for the greenback is bullish as long as it’s trading above the current August low at 0.9020. The specialists note that the bulls still face resistance at 0.9351 (55-month MA). This line will stop the pair for some time. The next resistance is at 0.9392 (29-year downtrend line). Only an unexpected failure if the support at 0.9020 would provoke a decline to 0.9021/0.9011 (3-month uptrend line and the 55-day MA).