Societe Generale analysts, including Kenneth Broux, report that the EUR/CHF currency pair has formed a higher low near 0.9090, compared to the March low of 0.8980, indicating early signs of reduced downside momentum as the cross approaches its 200-day moving average and a multi-year descending trendline around 0.9240/0.9265 [1]. The analysts emphasize that repeated failures to break above this resistance zone make a sustained move crucial for further upside, with 0.9090 identified as a key support level [1].
According to Societe Generale, previous attempts to bounce have stalled near the 200-day moving average, underscoring the importance of whether EUR/CHF can establish itself above the 0.9240/0.9265 zone [1]. If the pair fails to cross this resistance, the decline could continue, with the recent pivot low of 0.9090 serving as a critical support [1].
No specific market reactions, forward-looking statements, or analyst opinions beyond the technical assessment are provided in the article [1].
CONCLUSION
Societe Generale highlights a pivotal technical juncture for EUR/CHF, with reduced downside momentum and key resistance at 0.9240/0.9265. A sustained break above this level could signal further upside, while failure may lead to continued weakness. The market is closely watching these levels for direction.