EUR/CHF recently approached the lows of September 2022 near 0.9410 and has embarked on a rebound. Economists at Société Générale anlayze the pair’s outlook.
Multi-year trend line near 0.9630 must be overcome to affirm a meaningful up-move
Daily MACD has started posting positive divergence denoting receding downward momentum.
A short-term bounce can’t be ruled out however multi-year trend line near 0.9630 must be overcome to affirm a meaningful up-move.
In case the pair fails to defend 0.9410, there could be risk of an extended downtrend.
Source: https://www.fxstreet.com/news/eur-chf-at-risk-of-an-extended-downtrend-on-failure-to-defend-09410-socgen-202310300934