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EUR/CHF - Short-Term Bullish

EUR/CHF is pushing higher. Yet the technical structure indicates that the pair is trading without any real direction (lower highs and higher lows). Yet, a medium-term term bearish bias is still favoured. Hourly support lies at 1.0733 (28/08/2015 low). Resistance can be found at 1.0908 (declining channel resistance).

In the longer term, the technical structure remains negative as long as prices remain below the resistance at 1.1002 (02/09/2011 low). 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).

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