EUR/CHF snaps its four-month uptrend, scope for recovery while above 1.0712 – Commerzbank

FXStreet Team FXStreet

EUR/CHF has eroded its four-month uptrend at 1.0773 and needs to hold above the recent 1.0712 low to maintain chances of a recovery toward the 1.0850 region, Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, informs.

Key quotes

“EUR/CHF has eroded the foru-month uptrend and this has neutralised the immediate outlook. Directly below we have the July, August and September lows down to 1.0712. These will need to hold for scope for recovery to the 1.0850/60 region, this is long-term Fibonacci resistance.”

“A close above 1.0860 and preferably above the 1.0877 recent high is needed to target the 1.0915 June high and the 1.1058 October 2019 high.”

“We note that the DMI has turned negative for the first time since April and the 1.0722/12 supports are therefore exposed. Below 1.0712 lies the 1.0607 10th July low.”

Author

FXStreet Team

FXStreet

EUR/USD ticks higher to near 1.1800 ahead of flash German inflation data

The EUR/USD pair trades marginally higher to near 1.1810 in the late Asian trading session on Friday, ahead of the release of preliminary inflation data for February from Germany and its major states during the day.

GBP/USD struggles to lure buyers amid UK political drama, BoE easing bias

The GBP/USD pair struggles to build on the overnight modest bounce from the 1.3445 area, or the weekly low, and oscillates in a narrow band during the Asian session on Friday. Spot prices currently trade just below the 1.3500 psychological mark, nearly unchanged for the day, and seem vulnerable to slide further.

Gold awaits acceptance above $5,200 and US PPI data

Gold consolidates previous rebound near $5,200 amid risk-off markets, awaiting US PPI release. The US Dollar eyes a flattish weekly close as dovish Fed outlook and tariff woes outweigh geopolitical risks. Gold yearns for acceptance above $5,200 to resume the uptrend, with a bullish RSI in play.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Changing the game: International implications of recent tariff developments

The Supreme Court ruling on International Emergency Economic Powers Act (IEEPA) tariffs provides limited relief for the rest of the world, with weighted average tariff rates modestly lower.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.