Fri, Jun 02, 2023 @ 22:11 GMT
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EUR/CHF Breaks Rising Trendline

EUR/CHF remains weak as can be seen by the break of rising trendline. Hourly resistance lies at 1.1538 (04/08/2017 high). Hourly support is located at 1.1362 (25/08/2017 base low). Expected to show further bearishness.

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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