Friday, August 5, 2011

Commerzbank: EUR/CHF remains under pressure

The single currency remains under pressure versus Swiss franc due to the global risk-off sentiment. The concerns are partly caused by risk that the debt crisis will spread to other euro zone nations.

Technical analysts at Commerzbank underline that EUR/CHF didn’t manage to rise above the 38.2% retracement of the recent decline at 1.1216.

According to the specialists, the pair will slide to support in the 1.0550 area.

daily eurchf 11-52

Chart. Daily EUR/CHF
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