FXStreet (Edinburgh) – Karen Jones, Head of FICC Technical Analysis at Commerzbank, suggested the pair’s up move could struggle around the mid-1.1000s.
Key Quotes
“EUR/CHF topped at the 55 week ma, currently at 1.1006”.
“The current bounce is still expected to fizzle out ahead of or around the 1.1050 September peak”.
“As long as this is the case, losses back to the 1.0811 three month support line and the 1.0700/1.0690 July 27 high should be seen. This guards the 1.0531 late July low”.
(Market News Provided by FXstreet)