EUR/CHF: Important supports have hold well - Natixis

Micaella Feldstein, Research Analyst at Natixis, explains that the important supports at 1.0620-1.0634 (daily Bollinger lower band) for EUR/CHF cross have hold well since the end of January 2017 and the cross was able to recover markedly, breaking above 1.0680-1.0692 (9-week moving average).

Key Quotes

“Since an upside bubble is emerging on the daily chart and as the weekly stochastic has turned around, risks appear on the upside for the next few days. The cross should eye 1.0755 and 1.0789 (weekly parabolic). Note that a break of the latter would be needed to initiate a more significant rally to 1.08531.0864 (monthly Bollinger moving average). The supports lie at 1.0680-1.0692, at 1.0649-1.0663, at 1.0620-1.0634 and at 1.0570.”