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The EUR/CHF pair remains well supported by the July, August and September lows down to 1.0712 and was last seen trading near the daily highs of 1.0790. The cross will target the June peak at 1.0915 on a break of the 1.0877 recent high, Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, reports.

Key quotes

“The July, August and September lows down to 1.0712 have held and while intact scope for recovery to the 1.0850/60 region remains, this is long-term Fibonacci resistance.” 

“A close above the 1.0850/60 area and preferably above the 1.0877 recent high is needed to target the 1.0915 June high and the 1.1058 October 2019 high.” 

“Below 1.0712 lies the 1.0607 10th July low.”