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EUR/CHF could hit 1.2195 – Commerzbank

FXStreet (Edinburgh) - Technical studies point to a probable visit of the 1.2195 level, suggested Karen Jones, Head of Technical Analysis at Commerzbank.

Key Quotes

EUR/CHF has rallied towards the 1.2125 55 day ma”.

“The dip back from here is indicated to terminate circa 1.2086 and intraday Elliott wave counts are suggesting recovery to 1.2195”.

“Overhead resistance lies at 1.2133 the July low then the 1.2147 4 month downtrend”.

“Dips lower should find decent support at 1.2085/80 ahead of 1.2055/45”.

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