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EUR/CHF door open for a test of 1.0737 – Commerzbank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 11, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Karen Jones, Head of FICC Technical Analysis at Commerzbank, believes the cross could slip towards the 1.0730 area.

    Key Quotes

    EUR/CHF has recently broken down from a triangle, our bias is negative”.

    “Last week it reached the 1.0853 200 day ma, and while we would allow for this to hold the initial test we then look for a break below the 1.0810 February low to the 1.0737 November low”.

    “The intraday Elliott wave count is suggesting that near term rallies will struggle 1.0895”.
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