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11 Jun 2014
EUR/CHF potential downside to 1.2101 – Commerzbank
FXStreet (Edinburgh) - Weakness around the EUR/CHF could push spot to test the area of 1.2120, suggests Karen Jones, Head of FICC Technical Analysis at Commerzbank.
Key Quotes
“EUR/CHF has failed ahead of the 1.2222 downtrend and sold off aggressively to break below the 3 month channel”.
“Support at the 1.2167/63 May low and the December 2013 low has held the initial test but should give way shortly”.
“Beyond this, we would expect ongoing weakness to the 1.2101 March low”.