EUR/CHF: Weighing on 1.0514/00 – Credit Suisse
|EUR/CHF remains under pressure, steadily pushing lower in line with the recently completed bearish ‘outside day’, with daily MACD momentum also turning lower again, analysts at Credit Suisse brief.
Key quotes
“We expect further downside to unfold, with key support remaining at the April/May range lows and the key psychological barrier at 1.0514/00. An eventual break below here would suggest the medium-term downtrend is resuming and should finally allow momentum to re-accelerate.”
“Resistance moves to 1.0524/32, then 1.0541, ahead of the 55-day average at 1.0568, where we would expect the market to cap once more.”
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