EUR/CHF: Trading around strong support area

EUR/CHF

Trading around strong support area.

• EUR/CHF's bearish pressures continues. Strong resistance is given at 1.0762 (27/12/2016 high). Anyway, the medium-term pattern suggests us to see continued bearish pressures towards key support that can be found at 1.0623 (24/06/2016 low). We do not rule out a temporary surge.

• In the longer term, the technical structure is mixed. Resistance can be found at 1.1200 (04/02/2015 high). Yet,the ECB's QE programme is likely to cause persistent selling pressures on the euro, which should weigh on EUR/CHF. Supports can be found at 1.0184 (28/01/2015 low) and 1.0082 (27/01/2015 low).

EUR/JPY

Fading momentum.

• EUR/JPY is on its way towards support at 118.73 (05/12/2016 low) despite some consolidation. Hourly resistance is given at 123.31 (27/01/2017 high). Expected to start another leg lower.

• In the longer term, the technical structure validates a medium-term succession of lower highs and lower lows. As a result, the resistance at 149.78 (08/12/2014 high) has likely marked the end of the rise that started in July 2012. Strong support at 94.12 (24/07/2012 low) looks nonetheless far away.

EUR/GBP

Pushing higher.

• EUR/GBP continues to strengthen since the pair reached support given at 0.8450 (03/01/2016 low). If resistance at 0.8645 hold, we do not rule out further weakness towards support at 0.8304 (05/12/2016)

• In the long-term, the pair has largely recovered from recent lows in 2015. The technical structure suggests a growing upside momentum. The pair is trading above from its 200 DMA. Strong resistance can be found at 0.9500 psychological level.