Thursday, January 14, 2010

Commerzbank: dollar / franc needed break above the moving average

According to currency analysts Commerzbank, as the dollar / franc kept below 55-day moving average, which takes place at the level of 1.0221, the pressure in the pair is maintained, while it is possible to reduce the level of 1.0030, which is 78.6% Fibonacci Retracement. Break above 1.0221 will neutralize the risks of further reduction couples and open the way to 1.0386 with the prospect of further growth to the 200-day moving average at 1.0589. At the moment the dollar / franc is trading at around 1.0205. During the European session, the couple got up from the area below Chf1.0170 to levels above Chf1.0200 against the backdrop of a stable demand from the Swiss corporate accounts. Offer in the pair recorded near the level Chf1.0220, larger Ofer located in the Chf1.0245/60.

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