26 May 2015
EUR/CHF vulnerable to the downside – Commerzbank
FXStreet (Barcelona) - According to Karen Jones, Head of Technical Analysis at Commerzbank, EUR/CHF eroding the short-term uptrend has left it vulnerable to the downside for 1.0305 and 1.0235.
Key Quotes
“EUR/CHF has failed at the 1.0524 50% retracement and 30th April high. The subsequent sell off has seen the short term uptrend breached and this leaves the market to start this week in a vulnerable state”
“Failure here leaves the 1.0305 7th May low and the 1.0235 21st April low exposed.”
“Rallies will find initial resistance at the 1.0441 55 day ma.”
Key Quotes
“EUR/CHF has failed at the 1.0524 50% retracement and 30th April high. The subsequent sell off has seen the short term uptrend breached and this leaves the market to start this week in a vulnerable state”
“Failure here leaves the 1.0305 7th May low and the 1.0235 21st April low exposed.”
“Rallies will find initial resistance at the 1.0441 55 day ma.”