EUR/CHF - Remains in its Declining Channel
EUR/CHF is drifting lower and is now close to the hourly support at 1.0515 (see also the low of the declining channel). Another support can be found at 1.0414. Hourly resistances stand at 1.0618 (intraday high) and 1.0700 (see also the declining channel).
The EUR/CHF is digesting its 15 January sharp decline. The break of the key resistance at 1.0600 (intraday high) indicates an improving buying interest. Another key resistance stands at 1.1002 (02/09/2011 low). However, the ECB's QE programme is likely to cause persistent selling pressures on EUR/CHF, which should weigh on EUR/CHF. A key support can be found at 1.0357 (30/01/2015 low).