EUR/CHF Door Open for a Test of 1.0737 – Commerzbank

EUR/CHF Door Open for a Test of 1.0737 – Commerzbank

11 April 2016, 12:34
Roberto Jacobs
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EUR/CHF Door Open for a Test of 1.0737 – Commerzbank

Karen Jones, Head of FICC Technical Analysis at Commerzbank, believes the cross could slip towards the 1.0730 area.

Key Quotes

EUR/CHF has recently broken down from a triangle, our bias is negative”.

“Last week it reached the 1.0853 200 day ma, and while we would allow for this to hold the initial test we then look for a break below the 1.0810 February low to the 1.0737 November low”.

“The intraday Elliott wave count is suggesting that near term rallies will struggle 1.0895”.


(Market News Provided by FXstreet)

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