EUR/CHF: Key 0.9867/84 zone to hold to avoid strength towards 0.9950/parity – Credit Suisse

EUR/CHF has broken the 55-day moving average (DMA) at 0.9686. Economists at Credit Suisse see scope for a recovery to 0.9867/84, though with this ideally holding to avoid a move back to 0.9950/parity.

Move below 0.9644/41 needed to ease the current upside pressure

“We think that further near-term upside to 0.9867 is now a likely scenario.” 

“Support is seen at 0.9742/40 initially, though a move below 0.9644/41 is needed to ease the current upside pressure and put the market back on track towards a retest of the YTD low at 0.9409.” 

“Resistance now moves to 0.9831 and then above at the key 0.9867/84 zone, which ideally now curbs any further rise to avoid a potential move to 0.9950/parity.”