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EUR/CHF: A close above 1.0612 would see a double-bottom base completed – Credit Suisse

EUR/CHF has seen a sharp rebound higher and analysts at Credit Suisse believe the move has further to go in the short-term.

Key quotes

“A close above 1.0612 today would complete a small ‘double bottom’ base, with resistance then seen initially at 1.0656/62. Removal of here would suggest further strength, with resistance seen thereafter at 1.0704/17, the 38.2% retracement and ‘measured base objective’, where we would look for cap.” 

“Another rejection from 1.0662 would suggest the market is moving into a range, with support at 1.0602/0599, then 1.0565, ahead of 1.0505/00.”

 

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