EUR/CHF bullish momentum is maintained, the pair broke hourly resistance at 1.1685 ( 26/01/2018) while hourly support at 1.1471 is distanced (09/02/2018 low). New hourly resistance is given at 1.1731 (01/01/2018 high). The technical structure suggests further shortterm 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).
