EUR/CHF year-end target not far from current spot, but longer term to 1.15
Credit Agricole comments on the cross, sees range bound ahead in the near term stays core bullish and long targeting a move towards 1.15.
- "When it comes to crosses such as EUR/CHF, the central bank's intervention stance coupled with still elevated CHF long positioning should continue to prove sufficient for putting a floor below it.
- We foresee further range-bound trading in the short term while retaining a view of gradual EUR/CHF upside in the long run. Our year-end forecast stands at 1.08, not far from where the pair is trading now," CACIB notes.
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