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22 May 2015
EUR/CHF to re-test 1.0524 – Commerzbank
FXStreet (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank, expects EUR/CHF recovery to lead to a retest of 1.0524 levels.
Key Quotes
“EUR/CHF is attempting to recover ahead of its short term uptrend and should retest the 1.0524 50% retracement and 30th April high.”
“Dips lower should find initial support 1.0384, the 14th May low and hold the 1.0363 uptrend for an upside bias to be maintained.”
“A close above 1.0524 will be needed to see a further upside target of 1.0591 engage, this is the 61.8% retracement of the move down from February.”
“Above 1.0591 will introduce scope to 1.0688, which is regarded as the last defence for the 1.0811 high.”
Key Quotes
“EUR/CHF is attempting to recover ahead of its short term uptrend and should retest the 1.0524 50% retracement and 30th April high.”
“Dips lower should find initial support 1.0384, the 14th May low and hold the 1.0363 uptrend for an upside bias to be maintained.”
“A close above 1.0524 will be needed to see a further upside target of 1.0591 engage, this is the 61.8% retracement of the move down from February.”
“Above 1.0591 will introduce scope to 1.0688, which is regarded as the last defence for the 1.0811 high.”