Economists at Société Générale analyze EUR/CHF’s technical outlook.
Last week’s peak near 0.9770 must be overcome for affirming a meaningful up move
“EUR/CHF is now challenging the interim support zone of 0.9710/0.9670 representing the low of March and the 61.8% retracement from last year. An initial bounce is not ruled out however the peak achieved last week near 0.9770 must be overcome for affirming a meaningful up move.”
“Break below 0.9710/0.9670 could mean a persistent decline towards projections of 0.9600 and 0.9540.”