Swiss Franc: Further gains hinge on Euro resistance - Societe Generale
Societe Generale’s technical team notes EUR/CHF has broken a multi-month ascending trend line and briefly slipped below its 200-day moving average, forming an interim low near 0.9195. They see a rebound developing but stress the importance of reclaiming 0.9335/0.9370. Failure could extend the pullback towards 0.9140 and the May 2025 low at 0.9095.
Rebound hinges on resistance zone
"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."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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