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EUR/CHF Uptrend Line Holds

EUR/CHF uptrend is supporting the pair bullish momentum. Hourly resistance lies at 1.1538 (04/08/2017 high). Hourly support is located at 1.1260 (04/08/2017 low). Expected to show further bullish consolidation.

In the longer term, the technical structure has reversed. Strong resistance is given at 1.20 (level before the unpeg). 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).

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