EUR/CHF: At risk of an extended downtrend on failure to defend 0.9410 – SocGen
|EUR/CHF recently approached the lows of September 2022 near 0.9410 and has embarked on a rebound. Economists at Société Générale anlayze the pair’s outlook.
Multi-year trend line near 0.9630 must be overcome to affirm a meaningful up-move
Daily MACD has started posting positive divergence denoting receding downward momentum.
A short-term bounce can’t be ruled out however multi-year trend line near 0.9630 must be overcome to affirm a meaningful up-move.
In case the pair fails to defend 0.9410, there could be risk of an extended downtrend.
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