Rebound in EUR/USD is evolving within a flag and it is likely to inch towards 1.1510/65, 76.4% retracement from August highs, projects SocGen.
"However, a move above will be needed to signal a test of weekly upward channel at 1.1875 with intermittent resistance at 1.1720. 1.0940/1.08 is a decisive level for retest of 1.05/1.04," SocGen adds.
Turning to USD/CHF, SocGen notes that its elongated consolidation within triangle appears to continue.
"However, a move above will be needed to signal a test of weekly upward channel at 1.1875 with intermittent resistance at 1.1720. 1.0940/1.08 is a decisive level for retest of 1.05/1.04," SocGen adds.
Turning to USD/CHF, SocGen notes that its elongated consolidation within triangle appears to continue.
"The pair has recently tested the upper limit of the pattern, more importantly it is close to the key resistance at 0.99/1.00. A retracement towards 0.9550/20 looks more likely, a break below will lead to a retest of August lows at 0.926," SocGen adds.
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