EURCHF: Limited upside potential in the next days - Natixis

In view of Micaella Feldstein, Research Analyst at Natixis, the daily indicators struggle to recover and the daily volatility tends to narrow, suggesting a limited upside potential in the next days for EURCHF cross.

Key Quotes

“Against this backdrop, a return above the resistance at 1.0915 (daily Bollinger moving average) should prove difficult and we rather see a pullback towards a support located at 1.0854/70 (daily Bollinger lower band).”

“A drop below this threshold would pave the way for a deeper consolidation move to 1.0822 (9week moving average) even to 1.0772-1.0788 (rising trendline). The resistances lie at 1.0915, at 1.0945-1.0968, at 1.0990-1.10, at 1.1037 and at 1.1096.”