EUR/CHF low at 1.0390 remains in sight – Commerzbank

FXStreet (Barcelona) - As long as EUR/CHF trades below the resistance at 1.0618 and 1.0540, the low at 1.0390 remains in sight, notes Axel Rudolph, Analyst at Commerzbank.

Key Quotes

“EUR/CHF continues to trade below the 55 day moving average at 1.0540 and the two month resistance line at 1.0618. While they cap the current April low at 1.0390 remains in sight. It was made slightly below the February 9 low at 1.0414. Below it lies the January 16 high at 1.0250.”

“A downward bias will be maintained while EUR/CHF trades below last week’s low at 1.0700.”

“Above it lies the February high at 1.0811.”