The USD/CHF pair continues to ease lower and Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, is closely watching the 0.8830/23 zone as a break below here would trigger a fall to the 0.8758 mark.

Key quotes

“USD/CHF has continued to drift lower and this failure calls into question the base pattern we had been watching. Currently, we are concerned that the up move already looks to have ended. The Elliott wave count is neutral but attention has now dropped to 0.8830/23, the 18th December low.” 

“Only failure at 0.8823 will trigger a retest of the 0.8758 recent low.”

“Below 0.8758 would target 0.8703/.8698, the 2014 lows. Failure here will introduce scope to 0.8317, along term Fibo.”

 

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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news Join Telegram

Recommended content


Recommended content

Editors’ Picks

EUR/USD rises above 1.0900 after upbeat EU data

EUR/USD rises above 1.0900 after upbeat EU data

EUR/USD has gained traction and climbed above 1.0900 in the European session after the upbeat sentiment data from the Eurozone area helped the Euro gather strength. Meanwhile, the US Dollar stays on the back foot despite the cautious market mood. 

EUR/USD News

GBP/USD stays on the back foot below 1.2400

GBP/USD stays on the back foot below 1.2400

GBP/USD erased a small portion of its daily losses but lost its recovery momentum before reclaiming 1.2400. With the cautious market mood helping the US Dollar hold its ground against its rivals in the European session, the pair is having a difficult time gaining traction.

GBP/USD News

Gold retreats toward $1,920 as US yields edge higher

Gold retreats toward $1,920 as US yields edge higher

Gold price has turned south in the European session and declined toward $1,920. The benchmark 10-year US Treasury bond yield rises toward 3.55% and clings to gains on Monday, weighing on XAU/US. The US economic docket will not feature any high-impact data releases.

Gold News

Why Ethereum bears need to be cautious about shorting ETH before $2,000

Why Ethereum bears need to be cautious about shorting ETH before $2,000

Ethereum price has been consolidating after the January rally subsided after three weeks. This tightening continues even after BTC shot up 3% over the weekend. Therefore, a short-term spike in buying pressure should is likely. 

Read more

Big risk this week Fed hikes 50 points

Big risk this week Fed hikes 50 points

While the entire global investment community is apparently very excited about the US Fed slowing its rate increases to 25 bps, there are strong reasons for arguing why another 50 bps rate hike, or two, are still on the menu.

Read more

Forex MAJORS

Cryptocurrencies

Signatures