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EUR/CHF Door Open for a Test of 1.0737 – Commerzbank
Karen Jones, Head of FICC Technical Analysis at Commerzbank, believes the cross could slip towards the 1.0730 area.
Key Quotes
“EUR/CHF has recently broken down from a triangle, our bias is negative”.
“Last
week it reached the 1.0853 200 day ma, and while we would allow for
this to hold the initial test we then look for a break below the 1.0810
February low to the 1.0737 November low”.
“The intraday Elliott wave count is suggesting that near term rallies will struggle 1.0895”.
(Market News Provided by FXstreet)
