EUR/CHF’s buying pressures are going up and the pair has broken resistance area between 1.1356 and 1.1472. The pair has also broken resistance at 1.1538 (04/08/2017 high). Expected to show continued bullish pressures.
In the longer term, the technical structure has reversed. Strong resistance is given at 1.20 (level before the unpeg). Yet, the ECB’s QE programme is likely to cause persistent selling pressures on the euro, which should weigh on EUR/CHF. Supports can be found at 1.0184 (28/01/2015 low) and 1.0082 (27/01/2015 low).
