21 Oct 2015
EUR/CHF: door open for 1.0690? – Commerzbank
FXStreet (Edinburgh) - Karen Jones, Head of FICC Technical Analysis at Commerzbank, sees the possibility of the cross to re-visit the 1.0690 area.
Key Quotes
“No change. EUR/CHF has topped. It recently failed at the 55 week ma, currently at 1.0938, and the market has now eroded its four month support line and the 55 day ma to leave it on the defensive. This has introduced scope to 1.0690, the mid July high, and the 1.0531 late July low”.
“Rallies will find initial resistance at 1.0878/1.0922 and at 1.0963/64, ahead of the 1.1050 September high. If seen the market is expected to fail here”.
Key Quotes
“No change. EUR/CHF has topped. It recently failed at the 55 week ma, currently at 1.0938, and the market has now eroded its four month support line and the 55 day ma to leave it on the defensive. This has introduced scope to 1.0690, the mid July high, and the 1.0531 late July low”.
“Rallies will find initial resistance at 1.0878/1.0922 and at 1.0963/64, ahead of the 1.1050 September high. If seen the market is expected to fail here”.