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EUR/CHF bearish, could test 1.0713 – Commerzbank

FXStreet (Edinburgh) - The bearish outlook in the cross could allow a test of 1.0713 and below, according to Karen Jones, Head of FICC Technical Analysis at Commerzbank.

Key Quotes

EUR/CHF is seeing a tiny rebound – we remain bearish following rejection by the 55 week ma, currently at 1.0870, and the 1.0884 resistance line. We look for losses to the 1.0713 August low and 1.0690, the mid-July high, and then the 1.0531 late July low”.

“Above 1.0870/84 (not favoured), resistance remains to be seen at 1.0963/64, ahead of the 1.1050 September high. If seen the market is expected to fail here”.

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