EUR/CHF: Further weakness in line with a renewed phase of “risk-off” – Credit Suisse EURCHF Banks
EUR/CHF is under pressure for a test of support at 0.9712/00, below which can see a top established, analysts at Credit Suisse report.“EUR/CHF keeps grinding lower within its broad ~0.9700-1.0101 range, with weekly MACD momentum also turning freshly lower back into negative territory and with the EUR itself now showing signs of weakness. This, along with our ‘risk-off’ stance, leaves us also biased towards further EUR/CHF depreciation.
“We believe a range breakdown below 0.9712/00 is likely in due course, which would open up a move to 0.9559 next and potentially the 0.9411 low.”Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions.
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