EUR/CHF rebounds after holding 0.9210 support – Société Générale

EUR/CHF is rebounding strongly after testing key support, with the pair now challenging a major trend line that could unlock further upside, Société Générale's FX analysts note.

Pair tests descending trend line from March

"EUR/CHF has staged a sharp rebound after probing the graphical support near 0.9210 earlier this month. It is now challenging the descending trend line drawn since March. Ongoing bounce could extend towards next resistance zone at 0.9330/0.9370 representing the high of October, which is also the 200-DMA. Overcoming this hurdle would be crucial for confirming a larger up move."