20 Jan 2015
USD/CHF downside pressure below 0.9128 – Commerzbank
FXStreet (Edinburgh) - According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, USD/CHF needs to clear the 0.9130 area to regain buying interest.
Key Quotes
“USD/CHF is consolidating very near term”.
“The downmove was extreme and although the market has rallied back a long way, rallies will need to clear 0.9128 (61.8% retracement of the sell off) in order to alleviate immediate downside pressure”.
“Above here will signal recovery to the .9608/78.6% retracement of the same move”.
“While capped .9128 we are likely to see some further consolidation and move to .8452 16th January low en route to the 15th January .8350 overnight low”.
Key Quotes
“USD/CHF is consolidating very near term”.
“The downmove was extreme and although the market has rallied back a long way, rallies will need to clear 0.9128 (61.8% retracement of the sell off) in order to alleviate immediate downside pressure”.
“Above here will signal recovery to the .9608/78.6% retracement of the same move”.
“While capped .9128 we are likely to see some further consolidation and move to .8452 16th January low en route to the 15th January .8350 overnight low”.