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Nov 28 - 01:24 AM
EUR/CHF: Only Above 1.1011/17 Would See A Break Of Its Downtrend - Credit Suisse
First appeared on eFXplus on Nov 27 - 02:30 PM

Credit Suisse discusses EUR/CHF technical outlook and maintains a slightly lower bias against a close above 1.1011/17.

"With the downtrend from April still just capping our bias stays slightly lower with support seen at 1.0980 initially, then 1.0967/62, below which can see a test of what we view as more important support at 1.0955/47 – the 38.2% retracement of the November raly and price support. A break below here is needed to suggest a more important top is indeed in place," CS notes. 

"A close above the recent high and 78.6% retracement of the October/November fall at 1.1011/17 can see a conclusive break of the downtrend to clear the way for strengtn back to 1.1035/40, ahead of a fresh test of the upper end of its trading range at 1.1060/70 – the late July and October highs and 38.2% retracement of the April/September fall," CS adds. 

Source:
Credit Suisse Research/Market Commentary

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