EUR/CHF holds above key trendline – Société Générale
Source Fxstreet
EUR/CHF is testing a critical support zone after slipping below its 200-day moving average, with the 0.9285–0.9260 trendline likely to determine whether the pair stabilizes or extends its decline, Société Générale's FX analysts note.
Rebound potential in EUR/CHF
"EUR/CHF faced strong resistance near 0.9445 in August and has experienced a gradual decline after giving up the 200-day moving average. The ascending trend line established since April at 0.9285/0.9260 may serve as a key support."
"If the decline stalls near this zone, a short-term rebound cannot be ruled out. The peak achieved earlier in September near 0.9400 is likely to be an interim hurdle."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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