18 Jan 2016
USD/CHF consolidation most likely – Commerzbank
FXStreet (Edinburgh) - Karen Jones, Head of FICC Technical Analysis at Commerzbank, believes the pair could attempt a consolidative pattern after the rejection above the 1.0100 area.
Key Quotes
“USD/CHF failed last week to clear the 1.1120/25 recent high and Fibonacci retracement”.
“While this looks likely to provoke some consolidation, provided dips lower are contained by the .9851 5 month uptrend then an upside bias is preserved”.
“Initial support is the .9913 3 month uptrend”.
Key Quotes
“USD/CHF failed last week to clear the 1.1120/25 recent high and Fibonacci retracement”.
“While this looks likely to provoke some consolidation, provided dips lower are contained by the .9851 5 month uptrend then an upside bias is preserved”.
“Initial support is the .9913 3 month uptrend”.