EUR/CHF: Long-term downtrend at 1.0818 remains exposed – Commerzbank

FXStreet Team FXStreet

EUR/CHF remains capped by the 2018-2020 downtrend at 1.0818 and recent high at 1.0838. The pair trades at 1.0767 after reaching a daily high of 1.0784 early Monday. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, targets the June peak at 1.0915.

Key quotes

“A close above 1.0818/38 is needed to target the 1.0915 June high and the 1.1058 October 2019 high. Currently, we would allow for some further consolidation here, although dips lower remain shallow and the downtrend remains exposed.”

“Longer-term, we favour a break higher. The market will find initial support at the 1.0712/09 March and June 23 highs and also at the 1.0699 June 30 high. The July low and the 78.6% Fibonacci retracement at 1.0607/1.0593 are regarded as stronger support that is expected to hold.”

Author

FXStreet Team

FXStreet

EUR/USD bears Flirt with 61.8% Fibo. support near 1.1775 area

The EUR/USD pair extends the previous day's late pullback from the 1.1835 region and attracts some follow-through selling during the Asian session on Tuesday. Spot prices currently trade around the 1.1775-1.1770 area, down nearly 0.15% for the day amid a modest US Dollar strength.

GBP/USD holds losses below 1.3500 due to BoE rate cut bets

GBP/USD edges lower after two days of gains, trading around 1.3480 during the Asian hours on Tuesday. The pair declines as the US Dollar rebounds from losses recorded over the previous two sessions. Traders will focus on the US ADP Employment Change four-week average later in the day, along with speeches from Federal Reserve officials.

Gold down but not out as key $5,140 support holds

Gold consolidates the advance to monthly top of $5,250 in Tuesday’s Asian trades. The US Dollar finds demand as liquidity returns and risk sentiment recovers, despite US tariffs uncertainty. Gold defends 61.8% Fibo resistance at $5,142 amid the pullback, daily RSI remains bullish.

Dogecoin, Shiba Inu, and Pepe extend losses on bearish signals

Meme coins are facing renewed selling pressure amid fading broad risk-on sentiment so far this week, with Dogecoin, Shiba Inu, and Pepe extending their losses after recent corrections.

Supreme Court nixes tariffs, Trump teases 15% global tariff

On February 20th, the Supreme Court ruled that Trump’s global tariffs under IEEPA authority were unconstitutional, effectively nullifying the framework. However, the relief was short-lived. Within hours, Trump floated a 15% blanket tariff under an alternative legal authority.

XRP recovers slightly as bearish sentiment dominates crypto market

Ripple is rising above $1.40 at the time of writing on Monday amid fresh tariff-triggered headwinds in the broader cryptocurrency market. The sell-off to $1.33, the token’s intraday low, can be attributed to macroeconomic uncertainty, geopolitical tensions and risk-averse sentiment among other factors.