Tuesday, July 19, 2011

Barclays Capital: outlook for EUR/CHF and USD/CHF

Technical analysts at Barclays Capital believe that in order to reverse July's downtrend versus Swiss franc the single currency has to overcome 1.1650. In such case, EUR/CHF will be able to rise to 1.1810 and possibly to 1.20. 

Until that happens, the pair’s prospects will remain bearish and euro will be poised down to 1.1250.

h4 eurchf 16-15

Chart. H4 EUR/CHF

As for the pair USD/CHF, the bank changed the outlook from bearish to neutral noting, however, that taking into account the major downtrend the greenback’s advance will be limited by resistance in the 0.8275/0.8330 area.

daily usdchf 16-21

Chart. Daily USD/CHF

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