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EUR/CHF - Profit Taking

EUR/CHF's bullish momentum starts to fade. The pair is heading lower. Key resistance lies at 1.1037 (24/06/2016 high). We continue to consider that selling pressures are very important at this level. Expected to see further weakness.

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).

Daily Technical Report

 

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