EUR/CHF faces renewed bearish pressure after breaking key technical support levels, with analysts eyeing a move toward the 0.9095 floor.
Societe Generale strategists have identified a bearish technical shift for EUR/CHF, noting that the pair has breached its short-term uptrend and failed to maintain support at the 200-day moving average. This technical breakdown suggests a continuation of the current downward momentum, with the pair trending toward the May low of 0.9095.
The next potential support level is identified at the May low near 0.9095.
The outlook is bearish because the pair has broken its short-term uptrend and failed to hold above its 200-day moving average.
Societe Generale strategists report that the EUR/CHF pair has breached its short-term uptrend and failed to maintain the 200-day moving average. This technical breakdown signals a shift in momentum, with the pair now drifting toward the May low of 0.9095.
The outlook is bearish as the pair has broken its short-term uptrend and failed to hold the 200-day moving average, pointing toward a test of the 0.9095 support level.