EUR/CHF continues to weaken after the breach of the key support at 1.1581 (23/05/2018 low), confirming increasing selling pressures. Break of support would suggest extension of bearish pressure to key support at 1.1463.
In the longer term, the technical structure has reversed. Strong resistance at 1.20 (level before the unpeg) is now at reach. 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 and resistance can be found at 1.0624 (24/06/2016 low) and 1.2097 (18/12/2014 high).
