USD/CHF: potential for a small pullback – Commerzbank

Mark Carrington | October 28, 2015 | Forex News | No Comments

By FXStreet 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”.
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Source:: FX Street