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Riding short-term uptrend.
(By Yann Quelenn)
• EUR/CHF is trading into a new short-term
trend. Yet momentum is not "that" strong at the
moment. Strong resistance lies at a distance at
now at 1.1623 (22/09/2017 high). Support is given
at 1.1388 (02/09/2017 low). Downside risk is very
likely.
• In the longer term, the technical structure has
reversed. Strong resistance is given at 1.20 (level
before the unpeg). Yet, the ECB's QE
programme is likely to cause persistent selling
pressures on the euro, which should weigh on
EUR/CHF. Supports can be found at 1.0184
(28/01/2015 low) and 1.0082 (27/01/2015 low).
