USD/CHF recovery favoured – Commerzbank

By FXStreet FXStreet (Edinburgh) – According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair could attempt a recovery following the recent test of the 0.9800 area.

Key Quotes

Key Quotes

“USD/CHF continues to recover off the .9802 61.8% retracement”.

“The new low has not been confirmed by the daily RSI and we favour recovery. The Elliott wave counts are contradictory and we suspect it will need to regain 1.00 in order to alleviate downside pressure”.

“Below the market we find the 3 month uptrend at .9726 and the 200 day ma at .9653. If reached, we should see this hold”.
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Source:: FX Street