EUR/CHF: New 4-year lows – Commerzbank

EUR/CHF failed ahead of the 55-day ma at 1.0720 last week and starts this week under pressure. Karen Jones from Commerzbank analyzes the EUR/CHF pair from a technical perspective. 

Key quotes

“We have broken below 1.0585 and this targets 1.0250/35, a long term Fibo and April 2015 low. Above the 55-day ma would allow for a test of the 1.0812 September low.” 

“In order to negate downside pressure longer-term the cross will need to regain the 1.1058 October high on a daily chart closing basis to generate some upside interest.”