EUR/CHF door open for further downside – Commerzbank

FXStreet (Edinburgh) - In the view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the cross could be heading to the 1.2130 area.

Key Quotes

“EUR/CHF has failed again at 1.2178 and the intraday Elliott wave counts have turned more negative”.

“Intraday rallies are indicated to fail circa 1.2163 for a side to 1.2165 then the 1.2133 July low”.