Swiss Franc: Testing key resistance band against Euro – Societe Generale
Societe Generale’s Kenneth Broux and colleagues note that EUR/CHF has formed a higher low near 0.9090 versus March’s 0.8980, signalling reduced downside momentum as the cross approaches its 200‑day moving average and a multi‑year descending trendline around 0.9240/0.9265. They stress that repeated failures at this zone make a sustained break crucial, with 0.9090 identified as key support.
Cross nears multi‑year trend barrier
"EUR/CHF carved out a higher low around 0.9090, than the one achieved in March near 0.8980 highlighting early signals of reduction in downward momentum."
"It is approaching both its 200-DMA and a multi-year descending trendline around 0.9240/0.9265."
"Previous bounce attempts have stalled near this MA, making it important to assess whether EUR/CHF can establish above this zone."
"Failure to cross 0.9240/0.9265 could result in continuation of the decline. The recent pivot low of 0.9090 is a crucial support."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)
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