EUR/CHF: Close below 1.0189/69 to open up parity and even lower – Credit Suisse
|EUR/CHF has plummeted aggressively lower. A close below the 1.0189/69 support would open the door for a fall below parity and a move to Credit Suisse’s core medium-term objective at 0.9839/30
Scope for near-term ranging on quick return above 1.0339
“A sustained close below the key medium-term support at late April lows at 1.0189/69 would trigger a larger bearish ‘triangle’ continuation pattern to significantly reinforce our core bearish view.”
“Below 1.0189/69 support is seen at 1.0133 and then at 1.0086, which we expect to eventually break to open a move to parity, ahead of our long -held core objective at 0.9839/30.”
“We note that the potential ‘measured triangle objective’ is seen at 0.9609/00.
“A quick return above 1.0339 would negate the potential triangle formation and see scope for near-term ranging to occur.”
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