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USD/CHF potential visit to 0.9799 – Commerzbank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 21, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair could attempt a bounce towards the 0.9800 handle.

    Key Quotes

    USD/CHF last week sold off towards the 2015-2016 uptrend at .9635”.

    “We look for this to hold the initial test, the .9661 February low is found here and the 78.6% retracement and we would allow for a near term rebound back towards approximately the 200 day ma at .9799”.

    “In order to reverse the damaging sell off the market will have to regain this moving average on a closing basis”.
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