EUR / CHF 200 Daily Movement Target 1.0738– Commerzbank

EUR / CHF 200 Daily Movement Target 1.0738– Commerzbank

EUR / CHF recovered its 55-day movement from an average of 1.0638 to its highest level of 1.0699 / 1.0711, as expected, on June 23 and June 30. Although EUR / CHF dropped 0.2 percent today, it managed to stay above 1.0607. However, in order to meet the expectations, the pair needs to retest 1.0915, the highest level in June. Important notes: The EUR / CHF cross should retest the highest level of June 1.0915, provided that the current July low remains at 1.0607. Initial resistance is at 200-day moving average at 1.0738. Daily chart above 1.0915; 1.1058 - October will target the highest level in 2019. It measures the 200-week moving average at 1.1138. Below the 78.6% Fibonacci support at 1.0593, 1.0577 maintains the lowest levels of May 25, 1.0509 / 05, April and May (not preferred).