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20 May 2015
EUR/CHF could rebound to 1.0678 – JP Morgan
FXStreet (Edinburgh) - According to analysts at JP Morgan, EUR/CHF could attempt a visit to the area of 1.0678 in the near term.
Key Quotes
“The decisive break below key-support at 1.0418 (int. 38.2 %) suggests that a deeper setback is already on its way”.
“But as long as the red lagging line has not displayed two consecutive lower daily closes below the Ichimoku-cloud (currently at 1.0271) we can't exclude a stronger bounce, which could stretch out to the key-T junction at 1.0678 (int. 76.4 %)”.
“A break above daily trend line resistance (at 1.0437 today) could function as a trigger for such a rebound”.
Key Quotes
“The decisive break below key-support at 1.0418 (int. 38.2 %) suggests that a deeper setback is already on its way”.
“But as long as the red lagging line has not displayed two consecutive lower daily closes below the Ichimoku-cloud (currently at 1.0271) we can't exclude a stronger bounce, which could stretch out to the key-T junction at 1.0678 (int. 76.4 %)”.
“A break above daily trend line resistance (at 1.0437 today) could function as a trigger for such a rebound”.