EUR/CHF on its way to 1.2000? – Commerzbank

By FXstreet.com | August 25, 2014 AAA

FXStreet (Edinburgh) - Axel Rudolph, Senior Technical Analyst at Commerzbank, underlines the weakness surrounding the cross.



Key Quotes



EUR/CHF trades in multi-year lows and has so far dropped to an August low at 1.2072, a slip through which will have the late December 2012 low at 1.2064 in its sights”.



“Below it lies the November 2012 low at 1.2030 which is expected to hold. If not, the major psychological 1.2000 mark could be revisited”.



“Minor resistance now comes in around the previous August low at 1.2087 Friday low. Further resistance can be found at 1.2122/33. It is where the mid-March and July lows were made”.



“While trading below there, immediate downside pressure will be maintained”.



comments powered by Disqus
Related Forex Analysis
  1. GBP/USD recovering from Asian lows
    Forex News

    GBP/USD recovering from Asian lows

  2. USD/JPY mellow on the back of USD sell-off
    Forex News

    USD/JPY mellow on the back of USD sell-off

  3. Dollar Cheered in Press, But Data and Fed Chatter Turning
    Forex News

    Dollar Cheered in Press, But Data and Fed Chatter Turning

  4. EUR/USD Downside Targets Favored Ahead of ECB on Slowing Inflation
    Forex News

    EUR/USD Downside Targets Favored Ahead of ECB on Slowing Inflation

  5. US Dollar Technical Analysis: Is a Pullback in the Cards?
    Forex News

    US Dollar Technical Analysis: Is a Pullback in the Cards?

Trading Center