EUR/CHF set to target 1.1151/52 amid Swiss franc sell-off – Commerzbank

EUR/CHF is seeing a strong recovery and has reached the 55-day moving average at 1.1026. March high was made at 1.1152 – the pair is set to test this level, according to Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank.

Long-term target is the 1.1325 level

“EUR/CHF is seeing a strong recovery just ahead of the 1.0915 June 2020 high and the 1.0911 six-month uptrend. The bounce has so far reached the 55-day ma at 1.1026.” 

“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.”