EUR/CHF faces technical pressure after breaking a key trend line; analysts at Societe Generale eye 0.9335 as the critical level for a potential recovery.
Societe Generale notes EUR/CHF broke a multi-month ascending trend line and formed an interim low near 0.9195, but a rebound developing hinges on reclaiming 0.9335/0.9370 resistance.
The Euro/Swiss Franc pair has breached a multi-month ascending trend line, testing lows near 0.9195. Societe Generale analysts indicate that while a rebound is possible, the pair must reclaim the 0.9335 to 0.9370 resistance zone to stabilize the current downtrend.
The pair is currently under pressure after breaking a long-term trend line and dipping below its 200-day moving average, with 0.9335 acting as a critical resistance level.