USD/CHF still capped above 0.9400 – Commerzbank
|According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair’s upside continues to be capped by levels just above the 0.9400 handle.
Key Quotes
“USD/CHF continues to be capped by the 20 day ma at .9409 and is starting to weigh on the downside. The market has recently reversed as expected from the August 2015 low at .9260. Currently the Elliott wave count on the daily is suggesting a .9532 then .9617 correction higher (the 38.2% and 50% retracement)”.
“Failure at .9260 would target the base of the channel at .9232 and Fibo support at 0.9204 and then .9072 the May 2015 low”.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.