EUR/CHF bullish momentum continues, currently trading above 1.1870 and heading along the 1.1875 range. Strong resistance at 1.20 (level before the unpeg) remains. Hourly support is given at 1.1715 (07/01/2018 low). The shortterm 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 1.0624 (24/06/2016 low).
