Karen Jones, Head of Technical Analysis at Commerzbank, gives the technical outlook for EUR/CHF and USD/CHF, noting that both the CHF pairs remain bid at current levels.
Key Quotes
“EUR/CHF is bid near term above 1.0080, and we continue to look for gains to the 1.0600/70 region – this is the 61.8% retracement of the sell off.”
“While capped 1.0670 (61.8% retracement) a negative bias will persist for a retest of the overnight low at .9715 charted 15th January. Below here support lies .9307/40. Initial support is 1.0080.”
“USD/CHF continues to grind slowly higher and the market has overcome.0.9128 (61.8% retracement of the sell off) and the recent high at 0.9166 This has introduced scope for recovery to the .9608/78.6% retracement of the same move. Note we appear to be trading in the confines of an upchannel.”
“The market stays bid above .9080/00 this guards .8835/25. Support 0.8835/.8767 guards the .8452 16th January low.”
Key Quotes
“EUR/CHF is bid near term above 1.0080, and we continue to look for gains to the 1.0600/70 region – this is the 61.8% retracement of the sell off.”
“While capped 1.0670 (61.8% retracement) a negative bias will persist for a retest of the overnight low at .9715 charted 15th January. Below here support lies .9307/40. Initial support is 1.0080.”
“USD/CHF continues to grind slowly higher and the market has overcome.0.9128 (61.8% retracement of the sell off) and the recent high at 0.9166 This has introduced scope for recovery to the .9608/78.6% retracement of the same move. Note we appear to be trading in the confines of an upchannel.”
“The market stays bid above .9080/00 this guards .8835/25. Support 0.8835/.8767 guards the .8452 16th January low.”
