FXStreet (Barcelona) – Karen Jones, Head of Technical Analysis at Commerzbank, notes that EUR/CHF is seen recovering off the base of the channel but remains offered while below the 1.0453 midpoint of the channel.
Key Quotes
“EUR/CHF has sold off to and recovered from key support at 1.0312/1.0280 – the base of the channel and recent low. This has so far held the downside and the market is seeing some recovery off there.”
“This the market will now remain on the defensive below the 1.0416 55 day ma and 1.0453 mid point of the channel.”
“Below 1.0280 targets the 1.0235 April low.”
(Market News Provided by FXstreet)