The cross appears to have shifted its focus to the 1.1695 level for the time being, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank.
“EUR/CHF continues to be viewed as a top. The 55 day moving average has been eroded and this leaves attention on the 1.1695 2015- 2018 uptrend. This is now exposed 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”.
“Rallies will find minor resistance at 1.1865 ahead of 1.1880”.
“Above 1.2005 we have little resistance until 1.2145, the weekly TD resistance and then 1.2394, the January 2014 high”.
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.