USD/CHF well supported around 0.9775/0.9850 – Commerzbank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 30, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Edinburgh) - Karen Jones, Head of FICC Technical Analysis at Commerzbank, sees the pair well supported around the 0.9775/0.9850 area.

    Key Quotes

    USD/CHF is consolidating this weeks sharp gains following its daily close above the 2001-2015 downtrend at .9855”.

    “Ideally we would like to see a weekly close and preferably a monthly close above here to confirm the break higher, but currently we are happy to just go with it”.

    “The intraday Elliott counts are suggesting dips lower will now hold over .9775/.9850. The market has its sights set on .9972, the 2012 highs. Above here sees the 1.0128 March high and then the 1.0295 2015 high”.
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