EUR/CHF - The Support at 1.0414 Has Been Breached
EUR/CHF has breached the support at 1.0414, confirming the succession of lower highs and lower lows since mid-February. A key support stands at 1.0357. Hourly resistances can be found at 1.0488 (30/03/2015 high) and 1.0547 (25/03/2015 high).
The EUR/CHF is digesting its 15 January sharp decline. A key resistance stands at 1.1002 (02/09/2011 low). 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).