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23 Jun 2015
EUR/CHF potential for a drop to 1.0304 – Commerzbank
FXStreet (Edinburgh) - Senior Technical Analyst at Commerzbank Axel Rudolph sees the likeliness of the cross to re-visit the 1.0304 area.
Key Quotes
“EUR/CHF once more sold off to the 55 day ma at 1.0411 and is attempting to rebound from here”.
“Overhead resistance is offered by the channel resistance at 1.0595 and we note that the recent high represented the end of wave 4 of an Elliott wave count. There is scope for a sell off to the base of the channel at 1.0304”.
“Key support is viewed as 1.0305/1.0280 – the base of the channel and recent low”.
Key Quotes
“EUR/CHF once more sold off to the 55 day ma at 1.0411 and is attempting to rebound from here”.
“Overhead resistance is offered by the channel resistance at 1.0595 and we note that the recent high represented the end of wave 4 of an Elliott wave count. There is scope for a sell off to the base of the channel at 1.0304”.
“Key support is viewed as 1.0305/1.0280 – the base of the channel and recent low”.