13 Jul 2015
USD/CHF could slip towards the 0.9200 handle – Commerzbank
FXStreet (Edinburgh) - Karen Jones, Head of FICC Technical Analysis at Commerzbank, sees the chance that the pair could test the 0.9200 area.
Key Quotes
“USD/CHF upside was thwarted last week by the the 200 day ma and the May high at .9525/43”.
“The fall back from here suggests that upside efforts have temporarily exhausted themselves to leave the market back in the middle of the .9072 - .9543 band where we have been for 2 long months”.
“It does suggest that there will be some weakness near term. Intraday Elliott wave counts have become more neutral to mildly negative and we would allow for slippage to the .9201 2 month support line”.
Key Quotes
“USD/CHF upside was thwarted last week by the the 200 day ma and the May high at .9525/43”.
“The fall back from here suggests that upside efforts have temporarily exhausted themselves to leave the market back in the middle of the .9072 - .9543 band where we have been for 2 long months”.
“It does suggest that there will be some weakness near term. Intraday Elliott wave counts have become more neutral to mildly negative and we would allow for slippage to the .9201 2 month support line”.