Credit Suisse discusses its latest tactical bias on EUR/USD and USD/CHF in the near-term.
"EURUSD threatening a break of the range, however price action eminent of over-excitement at poor levels. We sense that a clean break of 1.09 is now being watched as the catalyst for fresh supply and are comfortable awaiting a move towards 1.0950/60 on the session, as opposed to chasing at current levels. Watching EURJPY through 117.45 for clues," CS notes.
"USDCHF still capped below 1.0000, patience and ﬂexibility important , range bound 0.9850-1.0000 with both parameters signiﬁcant now, it looks like being a roller-coaster into month-end," CS adds.