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USD/CHF: potential for a small pullback – Commerzbank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 28, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair could see a small pullback prior to a continuation of its upside.

    Key Quotes

    USD/CHF is now pushing hard into key resistance offered by the 2001-2015 downtrend at .9855”.

    “We have seen a small erosion of this zone but we note the 13 count on the 240 minute chart, which suggests a small retracement ahead of further gains”.

    “The intraday Elliott counts are suggesting dips lower will now hold over .9780/25”.
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