Analysts at Credit Suisse believe it is too early to position for a trend-reversal in EUR/CHF. They revise the exchange rate target lower from 1.0250 to 1.0050.

SNB stresses its price stability mandate

“A resumption of the downtrend is still possible as the SNB is very much committed to its price stability mandate. Switzerland's healthy external account and a deteriorating global risk sentiment should also support the franc.”

“Given the proximity of the current spot rate to our previous target of 1.0250, we revise it lower to 1.0050.”

“We adjust lower the level where we consider our view incorrect from 1.0720 to 1.0610.”