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FxWirePro: EUR/CHF edges higher, price rejected at 1.0469 lows

EUR/CHF bounces from 1.0469, currently trades at 1.0512, day's range Solid resistance by 1.0508 (30-day upper bollinger-band) likely to cap gains "The outlook for the cross remains bearish below the 1.0500 level (2015 do…

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  • EUR/CHF bounces from 1.0469, currently trades at 1.0512, day's range 

  • Solid resistance by 1.0508 (30-day upper bollinger-band) likely to cap gains 

  • "The outlook for the cross remains bearish below the 1.0500 level (2015 downtrend)" says Karen Jones, Head of FICC Technical Analysis at Commerzbank

  • The pair to find support on the downside at 1.0460 (Daily Low Jul 22), below which it could extend fall to 1.0420 levels

Resistance Levels:

R3: 1.0546 (Spike High Jun 25) 

R2: 1.0540 (Daily High Jun 11) 

R1: 1.0508 (30-Day Upper Bollinger)

Support Levels: 

S1: 1.0460 (Daily Low Jul 22)

S2: 1.0428 (Daily Low Jul 21)

S3: 1.0405 (Ichimoku Cloud Base)

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