EUR/CHF: Breach of 1.0810 opens up the 1.0643/1.0629 support zone – Commerzbank

EUR/CHF has eroded the 55-day moving average (DMA) at 1.0810 and this is negative. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, expects the pair to plunge towards the 1.0643/1.0629 region.

Negative below the 1.0941 the 2008-2021 downtrend

“EUR/CHF has eroded the 55-DMA at 1.0810 as expected, and remains under pressure.”

“The market has recently failed on a test of the 1.0941, the 2008-2021 downtrend and this leaves the market longer term still under pressure.”

“We look for losses to the mid-October low at 1.0700/1.0689. Further down sits the 1.0629 November low and there is also the 78.6% retracement at 1.0643.”