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14 Aug 2014
EUR/CHF on its way to 1.2100? – Commerzbank
FXStreet (Edinburgh) - The recent price action in the cross could prompt a new visit of the 1.2100 neighbourhood, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank.
Key Quotes
“EUR/CHF has sold off below the 1.2133 July low – it is under pressure”.
“It targets the 1.2101 3rdMarch low. The daily Elliott wave counts are suggesting that this will also be eroded for losses to 1.2080/1.2175”.
“The market stays negative below the 1.2178 recent high, initial resistance is the 55 day ma at 1.2162”.
Key Quotes
“EUR/CHF has sold off below the 1.2133 July low – it is under pressure”.
“It targets the 1.2101 3rdMarch low. The daily Elliott wave counts are suggesting that this will also be eroded for losses to 1.2080/1.2175”.
“The market stays negative below the 1.2178 recent high, initial resistance is the 55 day ma at 1.2162”.