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Mar 08 - 10:55 AM

EUR/CHF: Taking A Short-Term Breather Before Higher - Credit Suisse

By eFXdata  —  Mar 08 - 09:30 AM

Credit Suisse discusses EUR/CHF technical outlook and sees a scope for near-term range-trade before resuming its higher move over the coming weeks.

"Post a short -term breather, we look for a resumption of the uptrend...With this in mind, resistance is seen initially at 1.1123, above which would expose the July highs at 1.1152/72. Beyond here though would see 1.1200 next, removal of which would expose the 50% retracement of the fall from 2018 at 1.1255 over the longer term, where we would expect to see a more concerted pause," CS notes. 

"Support moves to 1.1055/53, below which would see a small intraday top completed to suggest a move back 1.1026 and then 1.1004/00. Beneath here can see a fall back to 1.0963/56, where we would expect to see another attempt to hold," CS adds. 

Source:
Credit Suisse Research/Market Commentary

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