EUR/CHF Weakening

EUR/CHF is currently trading above the 1.15 range and presents a bearish bias. The pair is approaching hourly support at 1.1471 (09/02/2018 low) while hourly resistance at 1.162 (07/02/2018 high) remains. The technical structure suggests short-term downward moves.

In the longer term, the technical structure has reversed. Strong resistance is given at 1.20 (level before the unpeg). Yet, the ECB’s slowing QE program is likely to cause buying pressures on the euro, which should weigh in favour of the EUR/CHF. Support can be found at 1.0234 (20/04/2015 low).

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