EUR/CHF: Five-month down channel eroded – Commerzbank
|EUR/CHF has eroded its five-month downtrend line and the market is well placed to tackle the 55-day moving average at 1.0584, Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, reports.
Key quotes
“The 55-day moving average at 1.0584 will need to be overcome on a closing basis to confirm any real upside intent and target the 1.0709 March high and potentially the 1.0813 200-day ma.”
“The cross has come close to the 1.0500 mark, it held the 1.0509 level for 7 days. Only below here will signal further downside to the 1.0236 April 2015 low.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.