EUR/CHF set to break the 1.0899/1.0915 resistance zone – Credit Suisse

EUR/CHF remains well supported above 1.0850/34 and also holding a base. Therefore, analysts at Credit Suisse stay biased higher for a break above 1.0899/0915. 

See – EUR/CHF: Scope for a dive as low as the 1.0629 November low – Commerzbank

EUR/CHF maintains an important base

“With daily MACD still in bullish territory and the market maintaining a large base though, we stay biased higher, with a break above the medium-term downtrend  at 1.0899/1.0915 needed to confirm a much more sustained upmove and open up the next important resistance at 1.0976/89 and likely beyond.” 

“First support is seen at the 13-day exponential moving average at 1.0850/34, then 1.0782, which now needs to hold to maintain the base. Below here would instead suggest further ranging, which is not our base case.”