Credit Suisse analysts explain that EUR / CHF has reached the 200-day moving average at 1.0897 and warn that they could point to the 2021 downtrend at 1.0925.
Key statements:
“The recent break above 1.0847 confirmed a large base suggesting that the medium-term downtrend may have come to an end, with the daytime MACD also firmly in bullish territory now. “
“We expect greater strength in the short term, with the medium-term downtrend at 1.0925 being the next level to watch, above which it would confirm that the medium-term downtrend is over.”
“Support remains at the break point of 1.0847 / 44, which would ideally remain on closing base to maintain a high level of base confidence. The next supports are seen at 1.0833 / 25, then 1.0782, which now it needs to hold to keep the floor. “
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