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5 Oct 2017
Small rebound expected in EUR/CHF – Commerzbank
Karen Jones, Head of FICC Technical Analysis at Commerzbank, noted the possibility of a small rebound in the cross.
Key Quotes
“EUR/CHF has sold off to the 3 month uptrend at 1.1418, this is likely to provoke a small rebound. We also note the divergence of the weekly RSI and this points to the market having topped recently at 1.1623. Failure at 1.1362 8 th of September low will target the 1.1261/59 August lows”.
“Above 1.1623 targets the 1.2000 mark”.
“A move below the 1.1261/59 August lows is needed to negate the up move”.