25 Nov 2015
USD/CHF pullback is seen as corrective – Commerzbank
FXStreet (Edinburgh) - According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the current pullback in the pair should be corrective.
Key Quotes
“USD/CHF is losing momentum ahead of the 1.0295 2015 high”.
“The recent high has yet to be confirmed by the daily RSI and the accelerated uptrend eroded, we would allow for a near term corrective set back”.
“The Elliott wave count is suggesting that we will see a correction back into the 1.0050/.9940 band ahead of recovery. Dips lower will find initial support at the 1.0122 November 19 low”.
Key Quotes
“USD/CHF is losing momentum ahead of the 1.0295 2015 high”.
“The recent high has yet to be confirmed by the daily RSI and the accelerated uptrend eroded, we would allow for a near term corrective set back”.
“The Elliott wave count is suggesting that we will see a correction back into the 1.0050/.9940 band ahead of recovery. Dips lower will find initial support at the 1.0122 November 19 low”.