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- EUR/CHF: Correction lower to hold the 1.1050-1.0990 zone – Commerzbank
EUR/CHF: Correction lower to hold the 1.1050-1.0990 zone – Commerzbank
FXStreet reports that the Commerzbank analyst team discusses EUR/CHF prospects.
“EUR/CHF last week reached the 200-week ma at 1.1146. We would allow for some profit taking here, the daily RSI has diverged and we have a 13 count on the daily chart. Dips are indicated as likely to hold the 1.1050-1.0990 region. Above 1.1152 lies the 50% retracement of the entire move down from the 2018 peak at 1.1257. Longer term, the market has recently completed a base, which offers an upside measured target to 1.1325.”
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