23 Jul 2015
EUR/CHF negative below 1.05 – Commerzbank
FXStreet (Edinburgh) - In the view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the outlook for the cross remains bearish below the 1.0500 level (2015 downtrend).
Key Quotes
“EUR/CHF has recovered and is now pushing hard into the 2015 downtrend, this currently offers resistance at 1.0500. While capped here, it is under pressure to sell off towards the base of the channel and recent low at 1.0342/1.0280. This has so far held the downside and the market is ranging”.
“Above the 1.0500 2015 downtrend will trigger a move to 1.0619, the top of the channel”.
“Below 1.0280 targets the 1.0235 April low”.
Key Quotes
“EUR/CHF has recovered and is now pushing hard into the 2015 downtrend, this currently offers resistance at 1.0500. While capped here, it is under pressure to sell off towards the base of the channel and recent low at 1.0342/1.0280. This has so far held the downside and the market is ranging”.
“Above the 1.0500 2015 downtrend will trigger a move to 1.0619, the top of the channel”.
“Below 1.0280 targets the 1.0235 April low”.