Pressure is mounting on the EUR/CHF pair and FX strategists at Credit Suisse are alert of a more significant break lower.
Key quotes
“We ideally look for the momentum to accelerate, with support seen initially at 1.0507/00. Removal of here would see support next at 1.0471/70, ahead of a move back to 1.0413/09, where we would expect to see fresh buying at first.”
“Resistance moves initially 1.0528/31, then 1.0540, ahead of 1.0551/52, which ideally caps to keep the short-term downside bias intact.”
“Our bias stays lower looking for an acceleration of the downside momentum, with key support at 1.0413/09.”
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