EUR/CHF is starting a strong bullish momentum, breaking strong hourly resistance at 1.1833 (15/01/2018) and approaching its 2014 highs. The pair is heading along the 1.1870 range. Strong resistance at 1.20 (level before the unpeg) remains. Hourly support is given at 1.1715 (07/01/2018 low). The short-term 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 1.0624 (24/06/2016 low).
