EUR/CHF holds above 50-DMA – Société Générale
Source Fxstreet
EUR/CHF has stabilized above the 50-day moving average, reducing downside momentum. The pair now tests the 0.9500 resistance zone, where a breakout could pave the way for a broader rebound, while support remains at 0.9390/0.9360, Société Générale's FX analysts note.
Key resistance near 0.9500 in focus
"EUR/CHF has gradually established itself above the 50-day moving average, indicating a reduction in downward momentum. The pair is now approaching the descending trend line drawn from 2021, situated near 0.9500, which may serve as an interim resistance."
"It will be important to observe whether EUR/CHF can overcome this level, as a breakout could signal the start of an extended rebound. The recent pivot low and the moving average at 0.9390/0.9360 provide short-term support."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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