EUR/CHF: Upside could struggle around 1.0806 – Commerzbank

Occasional rallies in EUR/CHF are seen struggling just above the 1.0800 hurdle, according to Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank.

Key Quotes

“EUR/CHF came under pressure yesterday and attention has reverted to the 200 day ma at 1.0736. Intraday rallies are likely to struggle 1.0806 (55 day ma) and failure here will leave the market vulnerable on the downside.”

“Below the market lies the late July, August and September lows at 1.0727/12. Below here sits the November trough at 1.0630.”

“The market has recently stalled at the 1.0858/91 September and December highs, The 1.0891 level guards the June high at 1.0915.”