EUR/CHF bullish momentum is maintained, the pair broke hourly resistance at 1.162 (07/02/2018) and approaches hourly resistance at 1.1685 (26/01/2018 high). Hourly support at 1.1471 is distanced (09/02/2018 low). The technical structure suggests further 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).
