EUR/CHF: Drop under 1.0096/86 to open up parity – Credit Suisse
|EUR/CHF continues to decline. Economists at Credit Suisse look for a break below 1.0096/86 to open up a move to parity.
Potential “measured triangle objective” seen at 0.9609/00
“We anticipate a further downside to unfold. Support remains at 1.0096/86 initially, which we look to break to support a further downmove 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.”
“Immediate resistance is seen at 1.0216/33 and then further above at the recent breakout point 1.0339. A quick return above here would potentially negate the strong breakout, though only a sustained break above 1.0514/15 would lead us to question our negative medium-term outlook.”
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