EUR/CHF - Fading Near The Key Resistance at 1.0600
EUR/CHF is recovering after its recent massive sell-off. The key resistance at 1.0600 has held thus far. The break of the hourly support at 1.0466 signals a weakening short-term bullish momentum. Supports now lie at 1.0357 and 1.0184 (28/01/2015 low). Another resistance can be found at 1.0675 (61.8% retracement of the 15 January decline).
The EUR/CHF is again a free-floating currency and has declined to uncharted water. The ECB's QE programme is likely to cause persistent selling pressures on EUR/CHF. As a result, the key resistance at 1.0600 should be hard to break. A key support stands at 0.9715.