EUR/CHF set to soar towards the 1.0989 resistance and beyond – Credit Suisse


EUR/CHF is rebounding from 1.0812/11. Analysts at Credit Suisse maintain their upside bias, with key resistance at the 1.0942 high, above which would trigger a larger base.

Support stays at 1.0812/11

“A break above 1.0888/090 2 would help stabilize the market further and confirm a reversal higher. The next important resistance above here is at the recent high at 1.0942, then 1.0976/89.”

“Whilst we would be alert to signs of a potential peak around 1.0976/89, our view that German 10yr Bond Yields can swing all the way to the top of their two-year ranges suggests that EUR/CHF also may have further upside potential beyond this level.” 

“First support stays at the 55-day average at 1.0812/11, below which would lead to further doubt about the possibility of a basing process. Next support is at 1.0782, below which would leave the market back in a range.”

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

How do emotions affect trade?
Follow up our daily analysts guidance

Subscribe Today!    

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD jumps to three-week highs near 1.1650 amid falling dollar, yields

EUR/USD is trading close to 1.1650, recovering ground to clinch three-week highs. The pair cheers risk-on mood-led decline in the US dollar. Treasury yields pullback, as poor US industrial data tempers hawkish Fed’s expectations. Focus on ECB and Fedspeak.

EUR/USD News

GBP/USD: Upside needs validation above the descending trendline near 1.3780

GBP/USD edges higher on Tuesday in the Asian trading hours. The pair faces strong resistance near the 1.3770-1.3780 zone below the bearish slopping line. MACD signals upside momentum with the underlying bullish sentiment.

GBP/USD News

Gold eyes $1,780 amid recent USD weakness

Gold prices lock in some fresh gains above $1,770 amid a recent pullback in the greenback. The US benchmark Treasury yields trade lower at 1.57% with 0.57% losses, which weigh on the greenback.  A lower USD valuation enhances the appeal of the precious metal for the other currencies holders. 

Gold News

Litecoin on the cusp of 26% breakout

Litecoin price is on the penultimate leg of a technical formation that will catalyze a quick bull rally. LTC needs to clear one critical hurdle to kick-start a run-up to levels last seen more than a month ago. Litecoin price has been on a slow but steady uptrend since Oct 13.

Read more

Netflix Stock Price and Forecast: When are NFLX earnings?

Netflix stock falls nearly 1% on Friday ahead of earnings. NFLX releases earnings on Tuesday, October 19, after the close. Netflix stock has been boosted by the success of Squid Game.

Read more

Forex MAJORS

Cryptocurrencies

Signatures