10 Nov 2015
USD/CHF points to consolidation short term – Commerzbank
FXStreet (Edinburgh) - In the view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair could attempt to consolidate in current levels prior to resume its upside.
Key Quotes
“USD/CHF did consolidate yesterday but the dip was contained by the accelerated uptrend at 1.0020 today”.
“We have seen an almost straight run up from .9500 in a matter of a few weeks and we would not be at all surprised to see some near term consolidation ahead of further gains to the 1.0128 March high and then the 1.0295 2015 high”.
“We have a TD perfected set up on the daily chart and 240 minute chart and a 13 count on the hourly chart”.
Key Quotes
“USD/CHF did consolidate yesterday but the dip was contained by the accelerated uptrend at 1.0020 today”.
“We have seen an almost straight run up from .9500 in a matter of a few weeks and we would not be at all surprised to see some near term consolidation ahead of further gains to the 1.0128 March high and then the 1.0295 2015 high”.
“We have a TD perfected set up on the daily chart and 240 minute chart and a 13 count on the hourly chart”.