EUR/CHF bias still negative – Commerzbank

Axel Rudolph, Senior Technical Analyst at Commerzbank, remains bearish on the cross.

Key Quotes

“Our EUR/CHF bias remains overall negative. The currency pair is seeing a small rebound from the 1.0869 200 day moving average which may take it to the 55 day moving average at 1.0942 and the late March high at 1.0953”. 

“While the latter caps, we continue to look for a break below the 1.0810 February low to the 1.0737 November low to ensue. Longer term we target the 1.0300/1.0260 region”.