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EUR/CHF gains appear capped in the mid-1.1000s – Commerzbank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 10, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    Axel Rudolph, Senior Technical Analyst at Commerzbank, believes the cross faces strong resistance in the 1.1050/60 band.

    Key Quotes

    EUR/CHF nears but should remain capped by the 1.1050/60 resistance area where the 61.8% Fibonacci retracement meets the mid-February high”.

    “Note that the 2008-2016 downtrend is located at 1.1311 – the market has failed here and resumed a longer term down move”.

    “Longer term we look for further losses to the 1.0737 November low. Initial support is the 200 day ma at 1.0791”.
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