EUR/CHF: Downside opening up towards 1.1544? - Commerzbank

Karen Jones, Analyst at Commerzbank, provides the key EUR/CHF technical levels to watch out for in the day ahead.

Key Quotes:

“EUR/CHF is starting to erode its uptrend at 1.1622. We will need to close below the 55-day ma at 1.1614 to negate the immediate upside bias. We remain unable to rule out an extension to the resistance line currently at 1.1817, but this looks less likely.“

“We continue to highlight the 13 count on the daily chart and we look for the market to now fail. Above 1.1817 we have very little until 1.20. Our attention is now on the 55-day ma at 1.1614 and recent low at 1.1544.“