EUR/CHF is bid above the 1.0901 six-month uptrend. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, expects the pair to jump above the 1.1075 level and extend its rise as high as 1.1325.
“EUR/CHF is underpinned by the 1.0915 June 2020 high and the 1.0901 six-month uptrend. We look for this to hold the downside and the recent key day reversal implies that this week’s low at 1.0927 is likely to be an interim low.”
“A close above the 1.1075, the end of April high will target the 1.1151/52 March high and 200-week ma. Above here will target the 50% retracement of the entire move down from the 2018 peak at 1.1255.”
“Longer-term, we target 1.1325.”
