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EUR/CHF offered below 1.1667 – Commerzbank

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The offered bias in the cross is expected to remain intact while below the 200-day ma in the 1.1665/70 band, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank.

The pair euro to swiss franc stays offered below the 200 day ma at 1.1667. Loss of 1.1505 would imply a retest of the 1.1369 recent low. While dips hold over the 1.1505 area, an upside bias will remain. Key resistance above the 200 day ma is the 55 day moving average at 1.1773, together with the January peak at 1.1833, and we look for this to cap the rally.

Failure at 1.1369 would target a move to the August 2017 low at 1.1259, the February 2016 high lies at 1.1200.
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