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13 May 2015
EUR/CHF expected to hold 1.0462/88 – Commerzbank
FXStreet (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank, notes that EUR/CHF is approaching the downtrend at 1.0462/88 and will hold this tough resistance, while any dips will stand supported at 1.0388/45.
Key Quotes
“EUR/CHF has rallied towards and is again approaching tough resistance at 1.0462/88, which is the location of the 2 month downtrend and the 55 day ma. It is expected to hold the top side.”
“Intraday Elliot wave counts are positive and suggesting dips lower will hold over 1.0388/45. Below 1.0295 will signal a retest of the 1.0255/35 recent low. This is regarded as the break down point to 1.0000.”
“Above 1.0495 will target 1.0591, 1.0688, which is regarded as the last defence for the 1.0811 high.”
Key Quotes
“EUR/CHF has rallied towards and is again approaching tough resistance at 1.0462/88, which is the location of the 2 month downtrend and the 55 day ma. It is expected to hold the top side.”
“Intraday Elliot wave counts are positive and suggesting dips lower will hold over 1.0388/45. Below 1.0295 will signal a retest of the 1.0255/35 recent low. This is regarded as the break down point to 1.0000.”
“Above 1.0495 will target 1.0591, 1.0688, which is regarded as the last defence for the 1.0811 high.”