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27 Feb 2014
Flash: USD/CHF expected to climb higher - UOB Group
FXStreet (Barcelona) - UOB Group Strategists note the strong USD/CHF rebound from the strong support at 0.8850 is expected to extend higher towards 0.8980.
Key Quotes
“USD/CHF struggled for than a week but failed to move below the strong support at 0.8850. The sharp recovery yesterday is the first sign that this pair could stage a counter-rally in the coming days.”
“A break of 0.8850 could still lead to a move towards last year’s low at 0.8800 but this appears unlikely at this stage. Instead, the current reaction higher is likely to extend towards 0.8980 and possibly 0.9038.”
Key Quotes
“USD/CHF struggled for than a week but failed to move below the strong support at 0.8850. The sharp recovery yesterday is the first sign that this pair could stage a counter-rally in the coming days.”
“A break of 0.8850 could still lead to a move towards last year’s low at 0.8800 but this appears unlikely at this stage. Instead, the current reaction higher is likely to extend towards 0.8980 and possibly 0.9038.”