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29 Jan 2016
USD/CHF: door still open for a test of 1.0295 – Commerzbank
FXStreet (Edinburgh) - According to Axel Rudolph, Senior Technical Analyst at Commerzbank, the pair remains on track to a potential visit of the 1.0295 level.
Key Quotes
“USD/CHF tested but is still being capped by the 1.0212/78.6% retracement, which remains the break point towards 1.0295 and the 1.0328 recent high”.
“A close above this latter level will introduce scope to 1.0732 longer term, the 78.6% retracement of the move from 2010 to 2011. Dips are indicated to hold circa 1.0135/1.0100”.
Key Quotes
“USD/CHF tested but is still being capped by the 1.0212/78.6% retracement, which remains the break point towards 1.0295 and the 1.0328 recent high”.
“A close above this latter level will introduce scope to 1.0732 longer term, the 78.6% retracement of the move from 2010 to 2011. Dips are indicated to hold circa 1.0135/1.0100”.