23 Mar 2015
EUR/CHF negative bias below 1.0700 – Commerzbank
FXStreet (Barcelona) - Axel Rudolph, Analyst at Commerzbank, notes that EUR/CHF maintains a negative bias whilst below 1.0700, suggesting to short the pair targeting 1.0420 levels.
Key Quotes
“EUR/CHF continues to be capped by the one month resistance line at 1.0688.”
“Above it lies the February high at 1.0811. Target is the 1.0414 February 9 low.”
“A downward bias should be maintained while EUR/CHF trades below last week’s low at 1.0700.”
“Current position: Short at 1.0657.”
“Recommended trade: Lower stop from 1.0710 to 1.0700. Exit at 1.0420.”
Key Quotes
“EUR/CHF continues to be capped by the one month resistance line at 1.0688.”
“Above it lies the February high at 1.0811. Target is the 1.0414 February 9 low.”
“A downward bias should be maintained while EUR/CHF trades below last week’s low at 1.0700.”
“Current position: Short at 1.0657.”
“Recommended trade: Lower stop from 1.0710 to 1.0700. Exit at 1.0420.”