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EUR/CHF could re-test 1.0804 – Commerzbank

FXStreet (Edinburgh) - In the opinion of Axel Rudolph, Senior Technical Analyst at Commerzbank, the cross could attempt another visit to the 1.0804 level.

Key Quotes

EUR/CHF topped at the 55 week ma at 1.1026”.

“The current bounce is still expected to fizzle out ahead of or around the 1.0964 August peak”.

“As long as this is the case, losses back to the 1.0804 three month support line and the 1.0700/1.0690 July 27 high should be seen. This guards the 1.0531 late July low”.

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