EUR/CHF: Resistance at 1.0800/40 caps for a move back lower to 1.0643/29 zone – Commerzbank

EUR/CHF remains capped by the 1.0800/40 resistance. Therefore, a reverse back lower below the 1.07 level is likely, according to Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, reports.

EUR/CHF to target the 1.0629 November low

“EUR/CHF faces tougher resistance 1.0800/40 and should struggle here.”

“Should the pair fail at 1.0800/40, we look for losses to the mid-October low at 1.0689 and further down sits the 1.0629 November low. In the mix is also the 78.6% retracement at 1.0643.” 

“The 1.0607 July low is viewed as the last defense for the 1.0505 May low.”