EUR/CHF is trading sideways at the 1.15 range following recent decline at 1.1448 (08/02/2018 low). Hourly resistance is at 1.1685 (26/01/2018 high) while strong resistance remains at 1.1833 (15/01/2018 high). Hourly support is given at 1.1388 (02/10 2017 low). The technical structure suggests further short-term sideways moves.
In the longer term, the technical structure has reversed. Strong resistance is given at 1.20 (level before the unpeg). Yet, the ECB’s slowing QE program is likely to cause buying pressures on the euro, which should weigh in favour of the EUR/CHF. Support can be found at 1.0234 (20/04/2015 low).