OctaFX | OctaFX Forex Broker
Open trading account
Back

USD/CHF: Sell with the rebound at 0.9435 – Commerzbank

USD/CHF continues to hold over the 0.9188 2018 low and the market is seeing a small rebound from here. Karen Jones from Commerzbank points out the levels to watch.

Key quotes

“We will be attempting to sell the rally and currently the intraday Elliott wave count is suggesting that we will see a 0.9435 corrective rebound prior to another leg lower. 

“The previous January low of 0.9613 should now act as formidable resistance.” 

“Below 0.9188 on a closing basis will target the 0.9072 May 2015 low and the 0.8838 the 38.2% retracement of the move from 2015.”

 

GBP/USD: Technically mixed

GBP/USD dipped below 1.29 after the BOE surprised by cutting rates to counter the coronavirus crisis. Wednesday's four-hour chart is painting a mixed
Read more Previous

GBP/USD: UK budget to drive the pound – TDS

GBP/USD has reversed its initial rate cut-induced weakness in a sign that FX markets are likely to reward currencies where the authorities are willing
Read more Next
Start livechat