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- EUR/CHF turns back higher to challenge the 1.0898 /1.0918 resistance - Credit Suisse
EUR/CHF turns back higher to challenge the 1.0898 /1.0918 resistance - Credit Suisse
FXStreet reports that EUR/CHF surged back higher again on Monday and analysts at Credit Suisse believe that a break above 1.0898/0918 would open up significantly higher levels.
“With daily MACD still firmly in bullish territory and the market maintaining a large base, we stay biased higher, with the market now testing the 200-day average and medium-term downtrend at 1.0898/1.0918, above which would confirm the medium-term downtrend is indeed over.”
“A break above 1.0898/1.0918 would open up the next important resistance at 1.0976/89 and likely beyond.”
“First support is seen at the exponential moving average at 1.0851, then 1.0782, which now needs to hold to maintain the base.”
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