EUR/CHF door open for a test of 1.0737 – Commerzbank

Karen Jones, Head of FICC Technical Analysis at Commerzbank, believes the cross could slip towards the 1.0730 area.

Key Quotes

“EUR/CHF has recently broken down from a triangle, our bias is negative”. 

“Last week it reached the 1.0853 200 day ma, and while we would allow for this to hold the initial test we then look for a break below the 1.0810 February low to the 1.0737 November low”.

“The intraday Elliott wave count is suggesting that near term rallies will struggle 1.0895”.