Tue, Jan 31, 2023 @ 16:48 GMT
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EUR/CHF dives after SNB, heading back to parity?

EUR/CHF dives through 1.0216 support after surprised SNB rate hike. The development now argues that corrective rebound from 0.9970 has completed at 1.0513. More importantly, rejection by 1.0505 support turned resistance, as well as 55 week EMA, maintain medium term bearishness.

The development now raises the chance of down trend long term down trend resumption through 0.9970 low at a later stage. If that happens, next target is 100% projection of 1.2004 to 1.0505 to 1.1149 at 0.9650.

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