EUR/CHF: Downtrend continues to lose momentum, risk starts to turn higher – Credit Suisse

The downtrend in EUR/CHF continues to lose momentum. In the view of economists at Credit Suisse, the trend may be in the process of turning with next resistance seen at 1.0443/51.

Risk to turn lower again on a break below 1.0362/58

 “Resistance is seen at 1.0443/51, with this expected to prove tougher mid-range resistance. Above can clear the way for strength back to the 1.0514 January high, but only a sustained move above here would be seen to mark a more important base, with resistance then seen next at 1.0545/52.” 

“Support is seen at 1.0376 initially. Below 1.0362/58 can see the risk turn lower again with support seen next at 1.0300 ahead 1.0280 and then medium-term support at the 2015 corrective low and 50% retracement of the recovery from the peg removal spike low at 1.0254/35, which remains our core objective.”