EURCHF faces risk of further upside as it looks to price in the action of SNB to partially devalue CHF in order to restore its international trade competitiveness. The pair is currently trade at a very tight range on daily time frame.
It is currently at a very strong support of 1.0516, a rebound to this level and if it break 1.0550 could see the pair rallying to the level around 1.0800 to 1.1000 in the medium term.
We therefore maintain our bullish view on EURCHF to be valid for the next 3 to 6 months horizon.
EURCHF BUY ENTRY @ 1.0543
TAKE PROFIT 1 @ 1 1.0822
TP 2 1.103
SL 1.0517
TAKE PROFIT 1 @ 1 1.0822
TP 2 1.103
SL 1.0517
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