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Swiss Franc: Euro resistance key to further gains - Societe Generale
EUR/CHF has formed an interim low near 0.9195. Societe Generale’s technical team notes that the pair broke a multi-month ascending trend line and briefly fell below its 200-day moving average. A rebound is taking shape, but the team highlights the need to regain 0.9335/0.9370. Failure to do so could prolong the pullback towards 0.9140 and the May 2025 low at 0.9095.
0.9335/0.9370 resistance key to 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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