EUR/CHF: Eroding the March low – Commerzbank

The EUR/CHF pair stays directly offered below the 55-day ma at 1.0607 and is eroding the March low, as Karen Jones from Commerzbank notes.

Key quotes

“EUR/CHF stays directly offered below the 55-day moving average at 1.0607, a negative bias is entrenched below here and attention is on the 1.0524 March low, which is currently being eroded.” 

“Below the 1.0524 low lies the 1.0250/35 area, made up of a long term Fibo and the April 2015 low.” 

“Only a close above the 55-day ma will alleviate downside pressure and will target the 1.0812 September low.” 

“Dips should find some support in the 1.0524/32 zone.”