Back
1 Apr 2015
Bearish outlook still unchanged for EUR/CHF – Westpac
FXStreet (Edinburgh) - Strategists at Westpac have suggested the EUR/CHF could head south in the near term.
Key Quotes
“No change in our EUR/CHF bearish view - ongoing ECB QE and a highly probable resumption of hostilities in eastern Ukraine at some point are both likely to weigh, dragging the cross back toward parity, if not below in H2 2015”.
“The second test above parity for 2015 has failed, producing a bearish weekly reversal last week. short term positives have somewhat neutralised price this week, however the topping pattern should dominate on a multi-week basis, producing a steady decline”.
Key Quotes
“No change in our EUR/CHF bearish view - ongoing ECB QE and a highly probable resumption of hostilities in eastern Ukraine at some point are both likely to weigh, dragging the cross back toward parity, if not below in H2 2015”.
“The second test above parity for 2015 has failed, producing a bearish weekly reversal last week. short term positives have somewhat neutralised price this week, however the topping pattern should dominate on a multi-week basis, producing a steady decline”.