Cross-rate signals: EUR/CHF remains under pressure

Past expectations for a decline in the EUR/CHF pair remain in force, despite the correction. However, the lateral triangle also remains in force with an eye for the upcoming data on the euro area, which can have a fundamental impact on the euro.

In a multidirectional movement and some uncertainty, the downtrend in the EUR/CHF pair remains. Also, the euro’s decline has an impact on the strengthening of the American, which also weakens the euro’s position in crosses.

The reversal zone for EUR/CHF is between 1.1520-1.1540, in which it is expected the formation of a reversal with the further update of the lows at the support levels: 1.1470 and 1.1450. The pair’s exit from the downtrend and fixing the price above the 1.1550 mark cancels the scenario for a decline.

Fig. EUR/CHF. The current price is 1.1520.

Hanzenko Anton