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EUR/CHF’s move higher is underway and Karen Jones from Commerzbank suspects further consolidation/corrective moves near term are likely to be seen. EUR/CHF trades at 1.066.

Key quotes

“The market should now recover to the 55-day ma at 1.0737 and the short term resistance at the 1.0812 September low.”

“In order to negate downside pressure longer-term the cross will need to regain the 1.1058 October high on a daily chart closing basis to generate some upside interest.” 

“Below 1.0585 would target 1.0250/35.”