EUR/CHF: Four-month downtrend line eroded – Commerzbank

The EUR/CHF pair has eroded its four-month downtrend line, as Karen Jones from Commerzbank notes. 

Key quotes

“EUR/CHF has eroded its four-month downtrend line at 1.0618 and attention is on the 55-day moving average at 1.0655. Above here will target the 1.0812 September low.”

“Dips should be over the 1.0524/32 zone.” 

“Below the 1.0524 low lies the 1.0250/35 area, made up of a long term Fibo and the April 2015 low.”