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21 Apr 2015
EUR/CHF has met the 1.0255/50 target – Commerzbank
FXStreet (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank, notes EUR/CHF failing to hold the 1.0255/60 zone might lead to further losses towards 1.00.
Key Quotes
“EUR/CHF has met the 1.0255/50 target. We note the TD perfected set up on the daily chart and would recommend if not already done so, exiting shorts. The 1.0250/55 zone represents the January 16 high and the 50% retracement.”
“We expect this to hold the initial test, but if not, this is also regarded as the break down point to 1.00.”
“A downward bias will be maintained while EUR/CHF trades below the resistance line at 1.0556.”
Key Quotes
“EUR/CHF has met the 1.0255/50 target. We note the TD perfected set up on the daily chart and would recommend if not already done so, exiting shorts. The 1.0250/55 zone represents the January 16 high and the 50% retracement.”
“We expect this to hold the initial test, but if not, this is also regarded as the break down point to 1.00.”
“A downward bias will be maintained while EUR/CHF trades below the resistance line at 1.0556.”