Commerzbank: bearish on EUR/CHF
Analysts at Commerzbank are bearish on EUR/CHF after the pair fell below 1.0600 on Friday. In their view, the single currency will slide to 1.0414 (Feb. 9 minimum). The attempts of the bulls to push the prices higher will find resistance in the 1.0625/1.0705 area. Commerzbank recommends setting stop loss order at 1.0710.
There’s a meeting and a press conference of the Swiss National Bank on Thursday. According to the consensus forecast, the central bank will leave Libor rate unchanged at -0.75%. 15 out of 26 economists surveyed by Bloomberg News think that the SNB won’t make other cuts this year.