EUR/CHF seen around 1.20 in 12-month – Danske Bank

Pablo Piovano FXStreet

The cross is expected to re-test the 1.20 area within a year’s view, according to Jens Pedersen, Senior Analyst at Danske Bank.

Key Quotes

“SNB delivered as widely expected yesterday with no material changes to its policy communication”.

“We expect EUR/CHF to trade heavy still as EU political risks remain and as the SNB is awaiting ECB’s next steps to exit unconventional policy”.

“We look for EUR/CHF to be sticky around 1.13 towards year end and then head back towards 1.20 in 12M helped by ECB ‘normalisation’ drawing closer”.

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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