USD/CHF pullback is seen as corrective – Commerzbank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 25, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the current pullback in the pair should be corrective.

    Key Quotes

    USD/CHF is losing momentum ahead of the 1.0295 2015 high”.

    “The recent high has yet to be confirmed by the daily RSI and the accelerated uptrend eroded, we would allow for a near term corrective set back”.

    “The Elliott wave count is suggesting that we will see a correction back into the 1.0050/.9940 band ahead of recovery. Dips lower will find initial support at the 1.0122 November 19 low”.
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