FXStreet (Edinburgh) – In the opinion of Axel Rudolph, Senior Technical Analyst at Commerzbank, bullish attempts in the cross should struggle around 1.0907.
Key Quotes
“EUR/CHF remains capped by good overhead resistance offered by the 55 week ma, currently at 1.0884, and the 1.0907 resistance line”.
“While capped here, we will target to 1.0690, the mid-July high, and the 1.0531 late July low”.
“Rallies will find initial resistance at 1.0907 and at 1.0963/64, ahead of the 1.1050 September high. If seen the market is expected to fail here”.
(Market News Provided by FXstreet)