EUR/CHF: Outlook remains negative below 1.1002/05 – Commerzbank

The bearish note in EUR/CHF is seen unchanged while below the 1.1002/05 band, suggested Axel Rudolph, Senior FICC Technical Analyst at Commerzbank.

Key Quotes

“EUR/CHF continues to recover from the 200 day moving average at 1.0883 and remains close to the 55 day moving average and April 12 low at 1.0969/75 above which the mid-March low and current June high can be spotted at 1.1002/05.”

“While trading below this area we will retain a medium-term bearish forecast.”

“Minor support is seen at the 1.0927/25 May lows.”