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13 Mar 2015
EUR/CHF: attention shifts to the support at 1.0610 – Commerzbank
FXStreet (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank, comments that EUR/CHF is sidelined and attention is now on the 1.0610 support, anticipating a break below this to target 1.0560.
Key Quotes
“EUR/CHF held broadly steady but seems to be unable to sustain a break of the 1.0670/42 region – this was the 61.8% retracement of the sell off and the 5th February high.”
“The market is trying to regain the topside but we look for it to remain capped circa the 1.0811 recent high.”
“Below 1.0610 would allow for a 1.0560 then 1.04 retracement ahead of further attempts higher.”
Key Quotes
“EUR/CHF held broadly steady but seems to be unable to sustain a break of the 1.0670/42 region – this was the 61.8% retracement of the sell off and the 5th February high.”
“The market is trying to regain the topside but we look for it to remain capped circa the 1.0811 recent high.”
“Below 1.0610 would allow for a 1.0560 then 1.04 retracement ahead of further attempts higher.”