2 Oct 2014
EUR/CHF bearish below the 1.2130 band – Commerzbank
FXStreet (Edinburgh) - The cross will keep the offered tone as long as trades below the 1.2128/33 area, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank.
Key Quotes
“EUR/CHF has held over support at 1.2055/45. This guards 1.2000”.
“We would allow for a small recover, initial resistance is 1.2082/90 ahead of the 1.2106 55 day ma and he 1/.2119 September high”.
“Overhead resistance lies at 1.2133 the July low and the 1.2128 4 month downtrend and the market remains on the defensive while capped here”.
Key Quotes
“EUR/CHF has held over support at 1.2055/45. This guards 1.2000”.
“We would allow for a small recover, initial resistance is 1.2082/90 ahead of the 1.2106 55 day ma and he 1/.2119 September high”.
“Overhead resistance lies at 1.2133 the July low and the 1.2128 4 month downtrend and the market remains on the defensive while capped here”.