Axel Rudolph, Senior Technical Analyst at Commerzbank, believes the cross faces strong resistance in the 1.1050/60 band. Key Quotes “EUR/CHF nears but should remain capped by the 1.1050/60 resistance area where the 61.8% Fibonacci retracement meets the mid-February high”. “Note that the 2008-2016 downtrend is located at 1.1311 – the market has failed here and resumed a longer term down move”. “Longer term we look for further losses to the 1.0737 November low. Initial support is the 200 day ma at 1.0791”. For more information, read our latest forex news.