The pair’s current stance remains downside corrective for the time being, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank. Key Quotes “USD/CHF has proved unable to clear the 20 day ma and attention has reverted to the 3 month uptrend at .9866. In order to confirm that the correction lower has ended we need to overcome the 20 day ma at .9972 – so currently we remain corrective. Initial support lies at the .9845 January high and the .9866 uptrend. Above the 20 day ma targets 1.0057 the recent high. Only above 1.0057 will target 1.0093/1.0108 (April 2017 high and 78.6% retracement) and then 1.0343 – the 2016 high”. “However currently the Elliott wave count on the daily chart is suggesting that the market is likely to correct back into the .9815/.9735 band and we are unable to rule out this scenario”. 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 GBP/USD eases from tops, still comfortable above 1.3300 handle FX Street 5 years The pair's current stance remains downside corrective for the time being, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank. Key Quotes "USD/CHF has proved unable to clear the 20 day ma and attention has reverted to the 3 month uptrend at .9866. In order to confirm that the correction lower has ended we need to overcome the 20 day ma at .9972 - so currently we remain corrective. Initial support lies at the .9845 January high and the .9866 uptrend. Above the 20 day ma targets 1.0057 the recent high. Only above 1.0057 will target 1.0093/1.0108 (April 2017… Regulated 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.
