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Dec 16 - 12:55 PM

EUR/CHF: Trapped N-Term - Credit Suisse

By eFXdata  —  Dec 16 - 11:45 AM

Credit Suisse discusses EUR/CHF technical outlook and adopts a tactical neutral bias in the near-term.

"The removal of 1.0786/88 and then of 1.0795/99 opens the door to a move back to 1.0816 and 1.0849. Beyond here though could see a renewed test of the crucial 1.0872/78 – the September and current December highs as well as the 38.2% retracement of the 2019/2020 fall – where we would expect to see a more concerted effort to cap," CS notes. 

"Support is seen initially at 1.0773/63, which now ideally floors the market. Removal of here though would see 1.0743/37 next, where we would expect to see another more important effort to hold," CS adds. 

Source:
Credit Suisse Research/Market Commentary

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