EUR/CHF to eschew a dip below the support line at 1.0813 – Commerzbank

EUR/CHF trades in five month lows near the support line at 1.0813. Axel Rudolph, Senior FICC Technical Analyst at Commerzbank, is looking for stabilization ahead of the 2020-2021 the mentioned uptrend at 1.0813.

So far dropped to 1.0819

“EUR/CHF has sold off towards the 2020-2021 support line at 1.0813 and we would expect to see an attempt at stabilization in this zone and recovery.”

“Nearby resistance is seen at the June low at 1.0872 and also at the May 11 and 24 lows at 1.0925/27.”

“Failure at the uptrend line at 1.0813 would target 1.0739, the 2021 low.”