FXStreet reports that EUR/CHF surged back higher again on Monday and analysts at Credit Suisse believe that a break above 1.0898/0918 would open up significantly higher levels.

“With daily MACD still firmly in bullish territory and the market maintaining a large base, we stay biased higher, with the market now testing the 200-day average and medium-term downtrend at 1.0898/1.0918, above which would confirm the medium-term downtrend is indeed over.” 

“A break above 1.0898/1.0918 would open up the next important resistance at 1.0976/89 and likely beyond.” 

“First support is seen at the exponential moving average at 1.0851, then 1.0782, which now needs to hold to maintain the base.”