The EUR/CHF pair can see the immediate risk stay lower while below 1.0760 for a retest of the recent low and channel support at 1.0700/1.0691, as reported by Credit Suisse.
See – EUR/CHF: More hawkish Fed to lift the pair towards 1.11 – Danske Bank
Channel support at 1.0700/1.0691 continues to hold
“Resistance at 1.0760 capping can keep the immediate risk lower for a retest of 1.0700/1.0691, a break of which can mark an acceleration in the downtrend with next support then seen at 1.0660/42, the November 2020 low and the 78.6% retracement of the 2020/2021 uptrend, with a better floor expected here at first.”
A direct break below 1.0660/42 would see support next at the July 2020 low and ‘neckline’ to the March/May 2020 base at 1.0605.”
“Above 1.0760 can mark a near-term base to see a deeper recovery back to 1.0792/1.0806, but with fresh sellers expected to show here.”
