EUR/CHF bullish momentum starts, the pair exits uptrend channel, approaching hourly resistance at 1.162 (07/02/2018 high). Hourly support is maintained at 1.1471 (09/02/2018 low). The technical structure suggests short-term increase.
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).
