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Apr 15 - 10:55 AM

EUR/CHF: Neutral N-Term; Core Bullish L-Term For 1.15 - Credit Agricole

By eFXdata  —  Apr 15 - 09:30 AM

Credit Agricole CIB Research discusses EUR/CHF outlook and maintains a structural bullish bias in the long-term.

"With the EUR/CHF cross having rebounded towards our March/June 1.1000 projection, our near-term outlook is neutral. This makes sense since positioning is back to balanced territory and as this implies fresh selling interest is needed to trigger more sustained CHF downside," CACIB notes.

"Our base case is for more CHF downside down the road, with our year-end EUR/CHF target standing at 1.1200 with upside towards 1.1500 and above by end-2022," CACIB adds. 

Source:
Crédit Agricole Research/Market Commentary

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