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EUR/CHF door open to 1.2180? – Commerzbank

FXStreet (Edinburgh) - Karen Jones, Head of FICC Technical Analysis at Commerzbank, signals the cross needs to close above 1.2130 to allow a potential visit to 1.2180.

Key Quotes

EUR/CHF has rallied higher and while we acknowledge a potential base, the market will need to close above its 5 month downtrend at 1.2125 and the 1.2133 July low to confirm a rally to the 200 day ma at 1.2179”.

“Intraday dips are indicated to terminate 1.2100/1.2093. Key support lies at 1.2055/45. This guards 1.2000”.

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