EUR/CHF set to soar towards the 1.0989 resistance and beyond – Credit Suisse
|EUR/CHF is rebounding from 1.0812/11. Analysts at Credit Suisse maintain their upside bias, with key resistance at the 1.0942 high, above which would trigger a larger base.
Support stays at 1.0812/11
“A break above 1.0888/090 2 would help stabilize the market further and confirm a reversal higher. The next important resistance above here is at the recent high at 1.0942, then 1.0976/89.”
“Whilst we would be alert to signs of a potential peak around 1.0976/89, our view that German 10yr Bond Yields can swing all the way to the top of their two-year ranges suggests that EUR/CHF also may have further upside potential beyond this level.”
“First support stays at the 55-day average at 1.0812/11, below which would lead to further doubt about the possibility of a basing process. Next support is at 1.0782, below which would leave the market back in a range.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.