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USD/CHF remains bid above 1.0145/22 – Commerzbank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 2, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - Karen Jones, Head of FICC Technical Analysis at Commerzbank, argues the pair’s outlook remains bullish above the 1.0145/22 area.

    Key Quotes

    USD/CHF no change, the market recently charted a new high for this year (we did not see a weekly close above 1.0295 however)”.

    “It is also important to note that the daily RSI has not confirmed the new high and we have a 13 count on the daily chart – both are a warning signal that the market is likely to correct”.

    “The market remains immediately bid above the 1.0145/22 19th and 24th November lows. We have an intraday Elliott wave count, which is suggesting that we will see a correction back into the 1.0200 band ahead of another leg higher”.
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