5 Jun 2015
EUR/CHF sees downside potential towards 1.0288 – Commerzbank
FXStreet (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank, sees downside potential for EUR/CHF towards 1.0411 and even 1.0288, with the pair having been rejected at the 1.0565 resistance.
Key Quotes
“EUR/CHF has rallied to and stalled at channel resistance at 1.0565 and we note that the Elliott wave count is indicating failure is likely here and we are alert to that possibility and a slide back to the 1.0411 55 day ma. There is scope for the base of the channel at 1.0288.”
Key Quotes
“EUR/CHF has rallied to and stalled at channel resistance at 1.0565 and we note that the Elliott wave count is indicating failure is likely here and we are alert to that possibility and a slide back to the 1.0411 55 day ma. There is scope for the base of the channel at 1.0288.”