Free Trial

Gains Deemed Corrective From A Technical Standpoint

CHF

Building on the previous bullet, the initial weakness in EUR/CHF & USD/CHF appears corrective at this stage, at least from a technical standpoint.

  • EUR/CHF has broken below the 20-day EMA. The next support to watch lies at the 50-day EMA (0.9772). A clear break of this average would signal potential for a deeper retracement and expose the May 3 low (0.9730).
  • USD/CHF is approaching support at the 50-day EMA (0.9055). A break here would expose short-term pivot support at the May 16 low (0.8988).
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.