12 Feb 2015
USD/CHF: Sidelined below Oct 2014 low - CB
FXStreet (Guatemala) - Karen Jones, chief analyst at Commerzbank explained the technical conditions surrounding USD/CHF.
Key Quotes:
"USD/CHF is side lined below the 0.9360 October 2014 low. The Elliott wave count on the daily chart is suggesting that the 0.9347 high was the end of an ‘a-b-c’ correction."
"This suggests that we should see a slide back to the 0.9080/00 zone and possibly 0.8835/.8767 and this guards the 0.8385 January 16th low."
"Above 0.9360 will allow for gains towards the 0.9608/78.6% retracement of the sharp sell off."
Key Quotes:
"USD/CHF is side lined below the 0.9360 October 2014 low. The Elliott wave count on the daily chart is suggesting that the 0.9347 high was the end of an ‘a-b-c’ correction."
"This suggests that we should see a slide back to the 0.9080/00 zone and possibly 0.8835/.8767 and this guards the 0.8385 January 16th low."
"Above 0.9360 will allow for gains towards the 0.9608/78.6% retracement of the sharp sell off."