EUR/CHF expected to climb to 1.20 in 12 months – Danske Bank

Pablo Piovano FXStreet

Christin Tuxen, Chief Analyst at Danske Bank, sees the cross inching higher and re-test the critical 1.20 region within a year’s view.

Key Quotes

“While CHF has proved surprisingly resistant to Italian risks and the equity sell-off recently, we stress that the risk of further Italy-EU confrontation as well as Brexit negotiations setbacks remain likely. This should weigh on EUR/CHF short term. The SNB will remain reluctant to change its communication in light of the stubbornly subdued inflationary pressure and a still-distant first hike from the ECB. In the absence of new political risks, this should allow EUR/CHF to re-invoke on a gradual move back towards 1.20 in 12M. It is likely to require a clear dip below 1.10 for the SNB to start intervening on a larger scale”.

“We have left our EUR/CHF profile unchanged, and still look for 1.13 in 1M, 1.13 in 3M, 1.16 in 6M and 1.20 in 12M”.

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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