EUR/CHF to fall toward 2021 lows at 1.0739 on a break below the 1.0813 support – Commerzbank

EUR/CHF trades in five month lows near the 2020-2021 support line at 1.0813. A break below here would open the way towards 1.0739, the 2021 low, according to Axel Rudolph, Senior FICC Technical Analyst at Commerzbank.

Looking for stabilization ahead of the 2020-2021 uptrend at 1.0813

“EUR/CHF has sold off close to the 2020-2021 support line at 1.0813 and we would expect to see an attempt at stabilization in this zone and recovery.”

“Nearby resistance is seen at the June low at 1.0872 and also at the May 11 and 24 lows at 1.0925/27.”

“Failure at the uptrend line at 1.0813 would target 1.0739, the 2021 low.”