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EUR/CHF rebounds from 0.9250/0.9210 support zone – Société Générale

Source Fxstreet

EUR/CHF is showing signs of hesitation after rebounding from key support near last year’s lows. While a short-term floor has formed, the pair's inability to reclaim the 200-DMA suggests limited upside traction and leaves the door open to further downside risk, Société Générale's FX analysts note.

Break below 0.9210 may trigger deeper correction

"EUR/CHF recently defended the crucial graphical zone of 0.9250/0.9210 representing last year lows. A brief rebound has materialized after this test. The pair has struggled to maintain above the 200-DMA which points towards a lack of steady upward momentum."

"Short-term price action may remain in a range defined by limits of 0.9250/0.9210 and recent pivot high of 0.9445. There could be a risk of a larger down move if the pair breaches 0.9250/0.9210."

Disclaimer: For information purposes only. Past performance is not indicative of future results.

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