November 29, 2022

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EUR/CHF: More consolidation first but year-end target at 1.12

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EUR/CHF strategy

EUR/CHF strategy

Credit Agricole CIB Research discusses EUR/CHF outlook and adopts a neutral bias in the near-term and a bullish bias over the medium-term.

“The CHF has been consolidating for most of the past few weeks with
crosses such as EUR/CHF trading broadly range-bound. This is unlikely to
change anytime soon with balanced speculative positioning pointing
towards low position squaring-related risks and as there is little scope
for changing policy differentials,” CACIB notes.

Our long-term outlook on the CHF, however, remains one of depreciation with our year-end EUR/CHF target standing at 1.1200,” CACIB adds.

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