EUR/CHF bid above 1.1870 – Commerzbank
|According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the stance on the cross remains bid while above 1.1870.
Key Quotes
“EUR/CHF has reached the psychological 1.2000 level around and is consolidating. It stays immediately bid above the 1.1870 near term uptrend line and overall bid above the 55 day ma at 1.1700”.
“Below the 55 day ma would target the 1.1613 2015-2018 uptrend and failure here would re-target the February low at 1.1448 and potentially a move to the August 2017 low at 1.1259 could unfold”.
“Above 1.2000 lies the 1.2394 high from January 2014”.
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