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USD/CHF door open for a test of 1.0045 – Commerzbank

In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair could attempt a test of 1.0045.

Key Quotes

USD/CHF’s rally has eroded the near term downtrend, but not so far managed to clear the 20 day ma at 0.9981. We note that the Elliott wave count on the daily is suggesting that the rebound is likely to reach the 38.2% retracement ahead of failure. This lies at 1.0045”.

“Currently the market is finding good support at the 200 day ma at .9882, the 55 week ma at .9862 and the 61.8% Fibo at .9853. We are beginning to suspect that it may have based here”.

“A close above 1.0045 is needed to alleviate downside pressure and generate some upside interest to 1.0248 11th January high and the 1.0328 2015 and 1.0344 December 2016 highs”.

 

 

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GBP/USD rangebound between 1.2350 and 1.2670 – UOB

According to FX Strategists at UOB Group, Cable should stick to the consolidative theme between 1.2350 and 1.2670 in the next weeks. Key Quotes “The
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