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.”