10 Mar 2015
Technical outlook: EUR and USD against CHF – Commerzbank
FXStreet (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank, gives the technical outlook for EUR/CHF and USD/CHF, expecting the former to remain capped circa 1.0811, and the latter to target 1.0000/25.
Key Quotes
“EUR/CHF held broadly steady but seems to be unable to sustain a break of the 1.0670/42 region – this was the 61.8% retracement of the sell off and the 5th February high.”
“The market is trying to regain the topside but we look for it to remain capped circa the 1.0811 recent high.”
“Below 1.0610 would allow for a 1.0560 then 1.04 retracement ahead of further attempts higher.”
“USD/CHF continues to inch higher following the break above the .9818 December 2014 high.”
“The market continues to push higher and above here and has now eroded .9886 (mid December high). It targets 1.0000/25 (psychological resistance and Fibonacci extension). This guards the 1.0240 mid January high.”
“Dips will find an initial uptrend at .9700 (uptrend drawn from Jan 22nd low) ahead of the near term up channel at 0.9579.”
Key Quotes
“EUR/CHF held broadly steady but seems to be unable to sustain a break of the 1.0670/42 region – this was the 61.8% retracement of the sell off and the 5th February high.”
“The market is trying to regain the topside but we look for it to remain capped circa the 1.0811 recent high.”
“Below 1.0610 would allow for a 1.0560 then 1.04 retracement ahead of further attempts higher.”
“USD/CHF continues to inch higher following the break above the .9818 December 2014 high.”
“The market continues to push higher and above here and has now eroded .9886 (mid December high). It targets 1.0000/25 (psychological resistance and Fibonacci extension). This guards the 1.0240 mid January high.”
“Dips will find an initial uptrend at .9700 (uptrend drawn from Jan 22nd low) ahead of the near term up channel at 0.9579.”