Search ForexCrunch

Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, suggested EUR/CHF could move into a bullish stance if 1.0915 is cleared.

Key Quotes

EUR/CHF continues to consolidate at the 1.0877 September high. This area guards the June high at 1.0915. These levels are key, the market has recently eroded the 2018-2020 downtrend, while this implies that we are no longer in a down move, it will need to close above 1.0915 to confirm that we are now in a bull move. This is favoured, but more work is needed.”

“First minor support along the 55 day moving average at 1.0770 may be revisited. Further support comes in at the 1.0748/12 late July, August and September lows and late October highs.”

“The 1.0607 10th  July low guards the 1.0509/05 lows charted in April and May.”