Monday, August 1, 2011

Commerzbank: EUR/CHF keeps falling - August 1, 2011

The single currency once again renewed the record minimum versus Swiss franc falling to 1.1262.

Economists at Brown Brothers Harriman note that this means that the potential resolution to the US debt ceiling will turn the market's focus back to the euro-zone peripheral nations.

Technical analysts at Commerzbank believe that EUR/CHF is on its way down to the support line of the downtrend from April to July at 1.11.

According to the bank, the pair will find support at the psychological level of 1.10 and then only at 1.0775.

daily eurchf 16-48

 Chart. Daily EUR/CHF

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