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11 Jun 2014
EUR/CHF potential downside to 1.2101 – Commerzbank
FXStreet (Edinburgh) - Weakness around the EUR/CHF could push spot to test the area of 1.2120, suggests Karen Jones, Head of FICC Technical Analysis at Commerzbank.
Key Quotes
“EUR/CHF has failed ahead of the 1.2222 downtrend and sold off aggressively to break below the 3 month channel”.
“Support at the 1.2167/63 May low and the December 2013 low has held the initial test but should give way shortly”.
“Beyond this, we would expect ongoing weakness to the 1.2101 March low”.
Key Quotes
“EUR/CHF has failed ahead of the 1.2222 downtrend and sold off aggressively to break below the 3 month channel”.
“Support at the 1.2167/63 May low and the December 2013 low has held the initial test but should give way shortly”.
“Beyond this, we would expect ongoing weakness to the 1.2101 March low”.