EUR/CHF scope for a test of 1.1833 – Commerzbank

In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the cross could attempt a visit to the 1.1833 level.

Key Quotes

“EUR/CHF trades back around the 55 and 200 day moving averages. It has also overcome the top of its cloud resistance. When combined with the buy signal on the DMI we will assume there is scope for further gains to the 1.1833 January high. Above 1.1833 retargets the 1.2000/05 recent high”.

“The near term uptrend at 1.1598 guards the 1.1369 recent low. Failure at 1.1369 would target a move to the August 2017 low at 1.1259, the February 2016 high lies at 1.1200”.