8 Jan 2016
USD/CHF appears supported at 0.9817/0.9962 – Commerzbank
FXStreet (Edinburgh) - In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair’s decline could find decent support in the 0.9817/0.9962 band.
Key Quotes
“USD/CHF continues to ease back very near term from the 61.8% retracement at 1.0121 (it is also the top of the cloud at 1.0150). The base of the cloud is found .9902”.
“The intraday Elliott wave counts are more negative and suggesting that rebounds will halt 1.000/1.0016 - below the market we find the 3 month uptrend at .9817 and the 200 day ma at .9662. If reached, we should see this hold”.
Key Quotes
“USD/CHF continues to ease back very near term from the 61.8% retracement at 1.0121 (it is also the top of the cloud at 1.0150). The base of the cloud is found .9902”.
“The intraday Elliott wave counts are more negative and suggesting that rebounds will halt 1.000/1.0016 - below the market we find the 3 month uptrend at .9817 and the 200 day ma at .9662. If reached, we should see this hold”.