USD/CHF has recently stabilised over 0.9500 and is attempting to reassert its up move, in the opinion of Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank.
Key quotes
“USD/CHF is starting to erode the 55-day ma at 0.9673. Above here lies the 0.9810 200 day ma and then the 0.9900 recent high.”
“Intraday Elliott wave counts are still conflicting and we would allow for some near term consolidation. The 0.9457 61.8% retracement guards the 0.9336 78.6% retracement and the current March low at 0.9184.”
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