EUR/CHF starts decreasing following recent consolidation phase at the 1.17 range. Expected to head along 1.17. The pair is contained between hourly support and resistance at 1.1675 (07/03/2018 low) and 1.1735 (08/03/2018 high). The short-term technical structure suggests short-term decreasing moves.
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).
