18 Aug 2015
EUR/CHF door open for a test of 1.10? – Commerzbank
FXStreet (Edinburgh) - In the opinion of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the cross could attempt another test of recent highs at 1.0964.
Key Quotes
“EUR/CHF has sold off to and recovered from the 1.0811 February high, we look for the market to recover from here and retest the 1.0964 recent high”.
“Above 1.0964 we have very little resistance until the 1.1000 area”.
“Support can be seen around the February high at 1.0811 and also at the August 10 low at 1.0700. Above this level an immediately bullish bias will be maintained. Currently the intraday Elliott wave counts are indicating that 1.0811 will hold”.
Key Quotes
“EUR/CHF has sold off to and recovered from the 1.0811 February high, we look for the market to recover from here and retest the 1.0964 recent high”.
“Above 1.0964 we have very little resistance until the 1.1000 area”.
“Support can be seen around the February high at 1.0811 and also at the August 10 low at 1.0700. Above this level an immediately bullish bias will be maintained. Currently the intraday Elliott wave counts are indicating that 1.0811 will hold”.