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Sep 28 - 06:55 PM

EUR/CHF: Further Range-Bound N-Term; Structurally Bullish & Long - Credit Agricole

By eFXdata  —  Sep 28 - 03:00 PM

Credit Agricole CIB Research sees EUR/CHF range trading in the near-term, while stays core bullish and long targeting a move towards 1.15.

"When it comes to crosses such as EUR/CHF, the central bank’s intervention stance coupled with still elevated CHF long positioning should continue to prove sufficient for putting a floor below it.

We foresee further range-bound trading in the short term while retaining a view of gradual EUR/CHF upside in the long run. Our year-end forecast stands at 1.08, not far from where the pair is trading now," CACIB notes. 

Source:
Crédit Agricole Research/Market Commentary

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