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15 Apr 2015
EUR/CHF outlook stays negative, target 1.0255/50 – Commerzbank
FXStreet (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank, maintains a bearish view on EUR/CHF, anticipating a move lower towards 1.0255/50, with 1.0495 expected to cap any upside attempt.
Key Quotes
“EUR/CHF saw an aggressive rebound from 1.0297 yesterday, while this may have been enough to temporarily alleviate downside pressure it is not enough to negate it.”
“Rallies should struggle circa 1.0450 ish. The recent high at 1.0495 is a tough nearby obstacle and together with the resistance line at 1.0581 is expected to cap the topside.”
“While they cap, the January 16 high at 1.0250 remains in sight and the 50% retracement at 1.0255.”
“A downward bias will be maintained while EUR/CHF trades below 19th March peak at 1.0700.”
Key Quotes
“EUR/CHF saw an aggressive rebound from 1.0297 yesterday, while this may have been enough to temporarily alleviate downside pressure it is not enough to negate it.”
“Rallies should struggle circa 1.0450 ish. The recent high at 1.0495 is a tough nearby obstacle and together with the resistance line at 1.0581 is expected to cap the topside.”
“While they cap, the January 16 high at 1.0250 remains in sight and the 50% retracement at 1.0255.”
“A downward bias will be maintained while EUR/CHF trades below 19th March peak at 1.0700.”