EUR/CHF: Staying Bullish & Long For Another Challenge On 1.0838 Targeting 1.10 – Credit Suisse

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EUR/CHF is testing the 1.08 level. What is the outlook for the pair?

Here is their view, courtesy of eFXdata:

Credit Suisse maintains a bullish bias on EUR/CHF, expressing that via holding a long position targeting a move towards 1.10.

We remain biased mildly higher and continue to look for another challenge on 1.0832/38. A sustained and closing break above here in due course would then reinforce thoughts of a broader change in trend direction to the upside and see resistance next at the 78.6% retracement of the May/July move lower at 1.0849/50 and eventually back up at the 1.0916 high of June,” CS notes.

“Support is seen at 1.0732/30, just shy of 1.0720/12, where we would expect to see a more concerted effort to hold,” CS adds.

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Kenny Fisher - Senior Writer A native of Toronto, Canada, Kenneth worked for seven years in the marketing and trading departments at Bendix, a foreign exchange company in Toronto. Kenneth is also a lawyer, and has extensive experience as an editor and writer.

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