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2 Apr 2014
USD/CHF well supported around 0.8800 – Commerzbank
FXStreet (Edinburgh) - Karen Jones, Head of FICC Technical Analysis at Commerzbank, expects pullbacks in USD/CHF to find strong support around 0.8800.
Key Quotes
“USD/CHF has reacted lower following the failure at the March high at .8896 and the market is easing back”.
“Dips lower should remain well supported on moves to .8800/.8777, this is the low seen in December and the 28th February low. While under pinned here we should see recovery”.
“The Elliott wave count on the 240 minute chart suggests dips lower will terminate circa .8815”.
Key Quotes
“USD/CHF has reacted lower following the failure at the March high at .8896 and the market is easing back”.
“Dips lower should remain well supported on moves to .8800/.8777, this is the low seen in December and the 28th February low. While under pinned here we should see recovery”.
“The Elliott wave count on the 240 minute chart suggests dips lower will terminate circa .8815”.