Small rebound expected in EUR/CHF – Commerzbank

Karen Jones, Head of FICC Technical Analysis at Commerzbank, noted the possibility of a small rebound in the cross.

Key Quotes

“EUR/CHF has sold off to the 3 month uptrend at 1.1418, this is likely to provoke a small rebound. We also note the divergence of the weekly RSI and this points to the market having topped recently at 1.1623. Failure at 1.1362 8 th of September low will target the 1.1261/59 August lows”.

“Above 1.1623 targets the 1.2000 mark”.

“A move below the 1.1261/59 August lows is needed to negate the up move”.