Bouncing higher very sharply.
• EUR/CHF has exited the downtrend channel.
However, despite the bullish breakout, the
medium-term pattern suggests us to see
continued bearish pressures towards key support
that can be found at 1.0623 (24/06/2016 low).
Expected to see further decline.
• In the longer term, the technical structure is
mixed. Resistance can be found at 1.1200
(04/02/2015 high). 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).
(By Peter Rosenstreich )