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EUR/CHF bearish below the 1.2130 band – Commerzbank

FXStreet (Edinburgh) - The cross will keep the offered tone as long as trades below the 1.2128/33 area, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank.

Key Quotes

EUR/CHF has held over support at 1.2055/45. This guards 1.2000”.

“We would allow for a small recover, initial resistance is 1.2082/90 ahead of the 1.2106 55 day ma and he 1/.2119 September high”.

“Overhead resistance lies at 1.2133 the July low and the 1.2128 4 month downtrend and the market remains on the defensive while capped here”.

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