EUR/CHF Weekly Outlook

EUR/CHF surged sharply to as high as 1.1405 last week as recent rally accelerated. The strong break of 1.1198 resistance confirmed underlying bullishness. Initial bias remains on the upside this week. Current rise will target 200% projection of 1.0652 to 1.0986 from 1.0830 at 1.1498. On the downside, below 1.1304 minor support will turn intraday bias neutral and bring consolidations, before staging another rally.

In the bigger picture, sustained break of 1.1198 key resistance confirms resumption of the long term rise from SNB spike low back in 2015. In this case, EUR/CHF would eventually head back to prior SNB imposed floor at 1.2000. For now, this will be the favored case as long as 1.1087 resistance turned support holds.

EUR/CHF 4 Hours Chart

EUR/CHF Daily Chart

EUR/CHF Weekly Chart

EUR/CHF Monthly Chart

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