EURCHF currency pair continues to push towards resistance area above 1.17 as seen in the 11 December EURCHF Technical Forecast. It is expected to show a continued increase.
11 December, Swissquote - There were no relevant macroeconomic events released early Europe but the upcoming days will see multiple first-tier releases and central banks announcements, including the Fed, which is expected to raise rates for the third time this year.
11 December EURCHF Technical Forecast
• EUR/CHF continues to push towards resistance area above 1.17 and support given at 1.1610 (27/10/2017 low). Expected to show a continued increase.
• In the longer term, the technical structure has reversed. Strong resistance is given at 1.20 (level before the unpeg). Yet, the ECB's QE programme is likely to cause persistent selling pressures on the euro, which should weigh on EUR/CHF. Supports can be found at 1.0184 (28/01/2015 low) and 1.0082 (27/01/2015 low).
This article ‘ 11 December EURCHF Technical Forecast ‘ was written by Yann Quelenn, Market Analyst at Swissquote.
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