EUR/CHF: Tough resistance at 1.0925/41 to cap gains – Commerzbank

EUR/CHF is facing tough resistance at 1.0925/41. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, expects the pair to be capped at this region.

Initial support seen at the 1.0815 55-day ma

“EUR/CHF has eroded the 200-day ma at 1.0900, but faces the 50% retracement of the move seen this year at 1.0925 and 1.0941, the 2008-2021 downtrend. This remains the critical resistance and we expect it to hold.” 

“We would then allow for losses to the mid-October low at 1.0700/1.0689 and further down sits the 1.0629 November low. There is also the 78.6% retracement at 1.0643.” 

“Initial support is the 55-day ma at 1.0815.”