Back
3 Aug 2015
EUR/CHF targets 1.0688 – Commerzbank
FXStreet (Edinburgh) - In the view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the cross could be headed towards the 1.0688 level.
Key Quotes
“EUR/CHF failed last week on its initial test of 1.0688, the 78.6% retracement of the move down since March”.
“Intraday Elliott wave counts are suggesting that the low we saw on Friday at 1.0531 was the low for now and we should see 1.0688 retested”.
“Above 1.0688 there is scope for the 1.0811 16th February high. Above here we have very little until 1.10”.
“Below 1.0530, dips will find the 1.0464 55 day ma and 1.0490 short term uptrend offer support”.
Key Quotes
“EUR/CHF failed last week on its initial test of 1.0688, the 78.6% retracement of the move down since March”.
“Intraday Elliott wave counts are suggesting that the low we saw on Friday at 1.0531 was the low for now and we should see 1.0688 retested”.
“Above 1.0688 there is scope for the 1.0811 16th February high. Above here we have very little until 1.10”.
“Below 1.0530, dips will find the 1.0464 55 day ma and 1.0490 short term uptrend offer support”.