EUR/CHF has eroded its uptrend to leave key support at 1.0915 exposed, Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, reports.
Bullish while above 1.0915
“EUR/CHF remained capped by the 55-day ma at 1.0997 last week. Dips have eroded the 1.0915 June 2020 high, but we have not yet CLOSED below here.”
“A close below 1.0915 will neutralize the bullish longer term outlook and introduce scope to the 55-week ma at 1.0834.”
“Above the 55-day ma lies 1.1028, the 19th May high. A close above here will be regarded as bullish and target initially 1.1075, the end of April high and this guards the 1.1143/52 March high and 200-week ma.”
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