Below 0.9250/0.9210, correction can deepen further – Societe Generale
EUR/CHF decline has stalled after achieving graphical level of 0.9250/0.9210 representing lows of December 2023 and August 2024, Societe Generale’s team of FX analysts note.
EUR/CHF has a chance to establish below 0.9250/0.9210
“Daily MACD has started posting positive divergence denoting receding downward momentum. A brief rebound can’t be ruled out but multi-month descending trend line at 0.9370 could be an important hurdle. Inability to cross this resistance could denote risk of further decline.”
“In case the pair establishes below 0.9250/0.9210, the phase of correction could deepen towards next projections of 0.9160 and 0.9125.”
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FXStreet Insights Team
FXStreet
The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.
