EUR/CHF holds above 50-DMA – Société Générale
|EUR/CHF has stabilized above the 50-day moving average, reducing downside momentum. The pair now tests the 0.9500 resistance zone, where a breakout could pave the way for a broader rebound, while support remains at 0.9390/0.9360, Société Générale's FX analysts note.
Key resistance near 0.9500 in focus
"EUR/CHF has gradually established itself above the 50-day moving average, indicating a reduction in downward momentum. The pair is now approaching the descending trend line drawn from 2021, situated near 0.9500, which may serve as an interim resistance."
"It will be important to observe whether EUR/CHF can overcome this level, as a breakout could signal the start of an extended rebound. The recent pivot low and the moving average at 0.9390/0.9360 provide short-term support."
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.