Credit Agricole CIB Research discusses EUR/CHF outlook and notes the in the very short-term, elevated CHF short positioning may well make the case for further currency upside.

"As such, in our view, better levels will still be reached if considering new EUR/CHF longs.

As no data or SNB speeches are scheduled for this week, it will be external factors, such as risk sentiment and ECB monetary policy expectations, which will drive the cross," CACIB argues.

CACIB Research closed its latest long EUR/CHF* trade on Jan-12 at 1.1800 for a 4.4% profit. (see here)

Source: Credit Agricole CIB ResearchOriginal Article