EUR/CHF support seen in the mid-1.2000s – Commerzbank

FXStreet (Edinburgh) - In the view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the cross could re-visit the recent support at the1.2055/45 band.

Key Quotes

“EUR/CHF has failed ahead of the 1.2115 55 day ma”.

“The intraday Elliott wave counts have neutralised but the market is likely to struggle intraday to regain 1.2086/90 and are likely to retest support at 1.2055/45”.

“This guards 1.2000. Overhead resistance lies at 1.2133 the July low then the 1.2136 4 month downtrend and we would cover any longs ahead of here”.