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EUR/CHF - Buying Pressures Increase... But Slightly
EUR/CHF is trading sideways. Yet, the pair is still way into a medium-term bearish momentum which should not last long as the SNB is defending the franc. Expected to bounce back way above 1.0800. Strong support is given at 1.0686 (18//11/2016 low).
In the longer term, the technical structure remains positive. Resistance can be found at 1.1200 (04/02/2015 high). Yet,the ECB's QE programme is likely to cause persistent selling pressures on the euro, which should weigh on EUR/CHF. Supports can be found at 1.0184 (28/01/2015 low) and 1.0082 (27/01/2015 low).