EUR/CHF: Underpinned by the 55-day ma at 1.0559 – Commerzbank

FXStreet Team FXStreet

EUR/CHF spent most of last week probing the 1.0653 late March high and the recent high at 1.0661 before sliding back towards the 55-day ma at 1.0559, per Commerzbank.

Read about last EUR/CHF forecast

Key quotes

“The 55-day ma at 1.0559 remains in focus before an eventual break above 1.0661 (favoured) would target the March high at 1.0709 and further up the 200-day moving average at 1.0775.”

“Minor support comes in at the 55-day moving average at 1.0559, where we expect to see some stabilisation. Only a daily chart close below the 1.0500 mark would probably signal losses to the 1.0236 April 2015 low (not favoured).”

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FXStreet

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