EUR/CHF: 0.9839/30 to hold for now ahead of a move to 0.9600 – Credit Suisse

EUR/CHF has reached 0.9839/30 and analysts at Credit Suisse look for a short pause here. However, they stay bearish from a technical perspective and look for a move to 0.9600 in due course.

Scope to reach 0.9475 on a breach of 0.9609/00 

“EUR/CHF has deteriorated further and has reached our long-held objective at 0.9839/30. We look for a short pause here.”

“With the 55-day, 200-day and 55-week moving averages in a strong downtrend and with weekly MACD momentum staying outright negative, we expect further downside to 0.9609/00, where we think at least another temporary consolidation is likely to take place.” 

“Should 0.9609/00 be breached though, we would see scope to reach next significant support at 0.9475.”