According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair is now consolidating below the 1.0000 handle. Key Quotes “USD/CHF is consolidating just below the psychological 1.0000 level and pressure remains on the topside. Last week we saw the market recover off the 55 day moving average at .9864 and break above the 20 day ma. The Elliott wave count continues to indicate that the recent move to .9789 was the end of the correction lower and we assume the US Dollar has begun its next leg higher. Nearby target is 1.0057, the recent high. This guards the 1.0093/1.0108 (April 2017 high and 78.6% retracement) and then 1.0343, the 2016 high. It is immediately bid above the .9835 4 month uptrend”. “Failure at 9723/14 (38.2% retracement + 200 day ma) will target the .9535 10th April low and below here will trigger losses to .9425, the 14th March low”. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/USD further weakness unlikely to be sustained – UOB FX Street 3 years According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair is now consolidating below the 1.0000 handle. Key Quotes "USD/CHF is consolidating just below the psychological 1.0000 level and pressure remains on the topside. Last week we saw the market recover off the 55 day moving average at .9864 and break above the 20 day ma. The Elliott wave count continues to indicate that the recent move to .9789 was the end of the correction lower and we assume the US Dollar has begun its next leg higher. Nearby target is 1.0057, the recent high. This guards… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
