28 Oct 2015
USD/CHF: potential for a small pullback – Commerzbank
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”.
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”.