EUR/CHF is probing 1.18 - Commerzabank

Commerzbank Analyst Karen Jones says EUR/CHF could rise to 1.1885-1.20 following a violation at 1.18. 

Key quotes

EUR/CHF remains underpinned by the 55 day ma at 1.1676. While above here we cannot rule out another upside attempt but as we have seen recently minor breaks to new highs have not been sustained.

The market is probing 1.18. Above this level we have very little until the 1.1885 resistance line and the 1.2000 area.

Key nearby supports are the 55 day ma at 1.1676 and the November low at 1.1544. Failure at 1.1544 will target the next lower 1.1389/62 September and October lows, failure at which would target the 1.1261/59 August lows. A move below the 1.1261/59 August lows is needed to negate the up move.