Home EUR/CHF: Back under pressure – Credit Suisse
FXStreet News

EUR/CHF: Back under pressure – Credit Suisse

EUR/CHF has come back under pressure and is breaking lower over the past sessions after essentially being capped around the 55-day average at 1.0581 and the 1.0595 high, which maintains the direct downward pressure on the market, per Credit Suisse.

Key quotes

“We turn our short-term bias back lower and see support initially at 1.0532. The next supports are then seen at 1.0523/20, below which would turn the spotlight back to the key psychological barrier at 1.0512/00.” 

“An eventual break below 1.0500 would suggest the medium-term downtrend is resuming, with scope for an eventual move to 1.0413/09 thereafter.” 

“A closing break above 1.0595 would suggest a deeper correction back higher, with the next resistance then seen at the 23.6% retracement of the down move from October 2019 and March high at 1.0638/54, which needs to cap to avoid a larger base and to keep the medium-term risks lower.”

 

FX Street

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.