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."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)