EUR/CHF’s swift bounce off the 1.0509/05 April and current May lows has taken it back to the 1.0653 late March high, as Commerzbank’s Axel Rudolph notes.
Key quotes
“A rise above yesterday’s high at 1.0661 would target the March high at 1.0709 and much further up the 200-day moving average at 1.0781.”
“Minor support comes in at the 1.0595/86 February low and early April high as well as along the 55 day moving average at 1.0559.”
“Only a daily chart close below the 1.0500 mark would probably signal losses to the 1.0236 April 2015 low.”
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