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EUR/CHF has dropped into 5-year lows at 1.0448 – Commerzbank

eur/chf-has-dropped-into-5-year-lows-at-1.0448-–-commerzbank

In accordance with Karen Jones, Workforce Head FICC Technical Evaluation Analysis at Commerzbank, the EUR/CHF cross might goal 1.0255/35, or the April 2015 low in the long run.

Key Quotes:

“EUR/CHF has sailed via the 1.0505 2020 low and stays below strain. This introduces scope to the 1.0255/35 April 2015 low and 50% retracement of the transfer 2015-2018. Rallies will discover close by resistance on the 1.0590 downtrend. Further resistance lies at 1.0629, the November 2020 low and the 2016 low and the 1.0696 19th August low.”

“An in depth above 1.0938 the mid-September excessive is required to negate our long run destructive bias (not favoured).”

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