Outlook for EUR and USD versus CHF – Commerzbank

FXStreet (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank, views that technicals suggest USD/CHF is well supported to overcome 0.9494 levels, and EUR/CHF remains bid whilst above 1.0670/42.

Key Quotes

“USD/CHF continues to hold steady and push hard into the 55 day ma. It has sold off towards and recovered from the .9360 October 2014 low and while under pinned by this support the market is well placed to overcome the 55 day ma at .9494."

“This market is bid above .9360, failure here will target the February low at .9177 and then .9080/00 zone.”

“EUR/CHF: [..]we suspect that the market will struggle to overcome the 1.0811 recent high. If long we would tighten stops to 1.0735.”

“This has introduced scope to 1.08455 (Fibonacci extension), then 1.1003, 1.1255 (78.6% retracement of the sell off).”

“Below 1.0640 would allow for a 1.0560/1.04 retracement ahead of further attempts higher.”