(24 APRIL 2017):EUR / CHF:Bouncing higher very sharply.

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 )