EUR/CHF: Closed above the 55-day ma at 1.0583 – Commerzbank

EUR/CHF has recently eroded its five month downtrend line, and now has managed to close above the 55-day ma at 1.0583, per Commerzbank.

Key quotes

“Ideally the market will maintain this break higher and we look for gains to the 1.0709 March high and potentially the 1.0808 200-day ma.” 

“The market held the 1.0509 level for 7 days. Only below here will signal further downside to the 1.0236 April 2015 low.”