EUR/CHF set to tackle overhead resistance at the 1.1009/28 zone – Commerzbank

EUR/CHF has bounced off the 1.0927 uptrends. Attention is on the 55-day moving average, May high and therefore the top of the channel at the 1.1009/28 region, as Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, notes.

EUR/CHF rebounds from the 2020-2021 uptrend at 1.0927
“EUR/CHF has bounced off the 1.0927 uptrends. Attention has reverted to the 55-day ma at 1.1009.”

“Above the 55-day ma lies the 1.1021 channel high and 1.1028, the 19th May high. an in depth above here are going to be considered bullish and target initially1.1075, the top of April high, and this guard the 1.1148/52 March high and 200-week ma.”

“Above the 1.1148/52 March high and 200-week ma, the pair will target the five hundred retracement of the whole move down from the 2018 peak at 1.1255.”

“Longer-term, we target 1.1325.”

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