EUR/CHF consolidating around 1.20 – Commerzbank

The cross is now expected to consolidate around the critical 1.2000 region, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank.

Key Quotes

“EUR/CHF continues to consolidate around/struggle at the psychological 1.2000 level. It stays immediately bid above the 1.1930 near term uptrend line and remains overall bid above the 55 day ma at 1.1747”.

“Below the 55 day ma would target the 1.1658 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”.