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Euro resistance holds the key to further Swiss Franc gains - Societe Generale
After breaking a multi-month rising trend line, EUR/CHF briefly fell below its 200-day moving average to establish an interim low near 0.9195, according to Societe Generale’s technical team. Although a rebound is taking shape, the team emphasises that the pair needs to regain 0.9335/0.9370. If it fails to do so, the pullback could continue towards 0.9140 and the May 2025 low at 0.9095.
EUR/CHF needs to reclaim resistance to sustain rebound
"EUR/CHF has extended its pullback after breaching a multi-month ascending trend line. The pair briefly dipped below the 200-DMA and carved out an interim low near 0.9195."
"A rebound is taking shape; however, it will be important to observe whether EUR/CHF can reclaim the recent pivot high at 0.9335/0.9370."
"An inability to overcome this resistance may lead to a continuation of the pullback."
"Below 0.9195, the next objectives could be located at projections of 0.9140 and May 2025 low near 0.9095."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Learn more.)
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