21 Jan 2015
EUR/CHF negative bias intact – Commerzbank
FXStreet (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank, notes that the EUR/CHF negative bias will persist for a retest of 0.9715 levels until the pair breaks above 1.0670 levels.
Key Quotes
“EUR/CHF is attempting to settle in the middle of a new range. While capped 1.0670 (61.8% retracement) a negative bias will persist for a retest of the overnight low at .9715 charted 15th January. Below here support lies .9307/40. Initial resistance is 1.0250.”
“Trade: Short .9999, stops 1.0250, exit .9340.”
Key Quotes
“EUR/CHF is attempting to settle in the middle of a new range. While capped 1.0670 (61.8% retracement) a negative bias will persist for a retest of the overnight low at .9715 charted 15th January. Below here support lies .9307/40. Initial resistance is 1.0250.”
“Trade: Short .9999, stops 1.0250, exit .9340.”