EUR/CHF has broken key resistance at 1.1711. Support is given at 1.1610 (27/10/2017 low). Expected a period of consolidation before extension of current bullish strength.
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).
