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.”