EUR/CHF: Bullish while above uptrend at 1.0905, eyes a breach of 1.1075 – Commerzbank

EUR/CHF is bid above the 1.0905 six-month uptrend. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, expects the pair to advance nicely from this level.

March high was made at 1.1152

“EUR/CHF is underpinned by the 1.0915 June 2020 high and the 1.0905 six-month uptrend. We look for this to hold the downside and recover.”

“A close above the 1.1075, the end of April high will target the 1.1151/52 March high and 200-week ma. Above here will target the 50% retracement of the entire move down from the 2018 peak at 1.1255.”

“Longer-term, we target 1.1325.”