EURCHF should hold well above the support at 1.1612 – Natixis

Micaella Feldstein, Research Analyst at Natixis, suggests that as the weak daily volatility of EURCHF cross should limit the downside in the next days, a drop below the support at 1.1612 (daily Bollinger lower band) is unlikely.

Key Quotes

“We anticipate a new round of rallies to the 1.1790-1.1807 barrier s(daily Bollinger upper band) ahead of the resistance at 1.1.1846 (monthly Bollinger upper band) and to 1.1878 (rising trendline).”

“The break of this last barrier would be needed to initiate a more sustained rally to the 1.20 psychological barrier ahead of 1.2170 (quarterly parabolic). The supports are located at 1.1670- 1.1686, at 1.1594-1.1612, at 1.1530, at 1.1433 and at 1.1383.”