(02 OCTOBER 2017)EUR / CHF:Breaking uptrend channel

(02 OCTOBER 2017)EUR / CHF:Breaking uptrend channel

2 October 2017, 13:40
Jiming Huang
0
11

ec


Breaking uptrend channel

(By Yann Quelenn)

• EUR/CHF is breaking within uptrend channel. 

Yet, we need more downside pressures. Strong 

resistance is now given at 1.1623 (22/09/2017 

high). Expected to show further short-term 

weakness. 

• 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).

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