EUR/CHF keeps the negative stance – Commerzbank

Karen Jones, Head of FICC Technical Analyst at Commerzbank, has reiterated the negative bias around the cross.

Key Quotes

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

“It has reached the 1.0850 200 day ma, and while we would allow for this to hold the initial test we 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”.