EUR/CHF poised to tackle its 18 month low - Commerzbank

Karen Jones, Analyst at Commerzbank, provides technical outlook for the EUR/CHF cross alongside her take on the EUR/GBP cross. 

Key Quotes:

"EUR/CHF remains offered below the 1.0726/61 resistance (55 day ma and the recent high). It has recently closed below the 1.0688/81 recent low and Fibo. This is very negative price action. We continue to look for losses to the break down point to the 1.0623 spike low (the June 2016 low), which is expected to act as the break down point to 1.0562 level, the 50% retracement of the 2015-2016 move."

"EUR/GBP has sold off to the base of the cloud, which today is located at .8524. Rallies have recently failed ahead of the top of the cloud at .0.8677 and imoku 2 at .8660. Below the cloud will trigger losses initially towards the 0.8443 200 day ma and this guards the 0.8304 December low."