EUR/CHF could slip back to 1.1833 – Commerzbank

In opinion of Axel Rudolph, Senior Analyst at Commerzbank, the cross could attempt a test of the 1.1830 region.

Key Quotes

“EUR/CHF continues to range trade below its April high at 1.2005. We would allow for the possibility of a corrective set back from here towards the January peak at 1.1833. Below it lies the 55 day ma at 1.1778”.

“Below the 55 day ma would target the 1.1668 2015-2018 uptrend and failure here would re-target the February low at 1.1448 and potentially a move to the August 2017 low at 1.1259 could unfold”.

“Above 1.2005 lies the 1.2394 high from January 2014”.